Prices into Indonesia are steady this week. Trading was done as high as $585 CIF Indonesia with offers out at $590 CIF. Trading into China is higher at $580 – 595. Buyers had been pushing back basis the cheaper soybean meal numbers, but have been willing to pay higher prices out of the Australian/New Zealand (ANZ) markets for reduced shipping times.
Domestic bovine MBM prices are higher out of and in the Australian market this week. Tight supplies have helped push the top side of the market higher. Production was already at decades low numbers and the cyber-attack on JBS exacerbated the situation. Despite the tight supply, trade restrictions on Australia and shipping difficulties have kept a lid on the market. Some short covering is expected in the near term and this could further boost prices in the Australian market.
Prices in the US domestic market are steady to higher after the long, Memorial Day holiday weekend….
05.06.2024
Strong biodiesel production seen weighing on crude glycerin prices
The whispers of declining biodiesel production are meeting with resistance. Some observers have been sounding the alarm regarding declining production for over a year now, but if true, biodiesel...
05.06.2024
Average weekly hog slaughter to decrease into mid-June: Fastmarkets’ research team
Distillers’ corn oil (DCO) prices fell to 42-43.5 cents per lb delivered US Gulf on Monday May 6 for May-June shipments. There was additional trading reported on the same...
05.06.2024
Year-to-date commercial cattle production falls 2.30% y-o-y
US animal proteins prices were steady on Monday May 6. Limited trade was reported, with several market participants only testing prices, Fastmarkets heard.
US hog slaughter
Fastmarkets research...