Australia meat and bonemeal was pushed higher on active demand, even with increased slaughter levels for the entirety of 2023. A new range of $820-860/mt was reported for the week.

New Zealand bloodmeal was higher, up to $1570/mt on active demand, while most other items were flat for the week on light trades. Meat and bonemeal, 45 and 50 pro, were higher by $20/mt.

Lower values were indicated into Indonesia on communication that Mexico and US domestic pricing are better values for the near term. A low of $640/mt was conveyed for the current week in Indonesia.

Limited trade was reported on the US interior for the week as well, though porcine meat and bonemeal, as well as porcine and ruminant bloodmeal, were under pressure. Volatility in nearby futures values on the CME has led to buyer hesitation, with some expecting the market to drop into the third and fourth quarters of 2023.

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