09.20.2024
BOHO spread reaches two-month high
The BOHO spread rose sharply on Friday September 20 to its highest since late July, as October soybean oil futures on the Chicago Mercantile Exchange traded higher and ultra-low-sulfur...
**Please note – Chloe Krimmel is out of the office until Monday, September 25th. Please contact Ryan Standard at [email protected] with any questions or comments.**
The overall tone in the protein market was mostly sideways this week. Prices were higher into China and flat into Indonesia. Trading into Malaysia, Vietnam and Taiwan was indicated at $610 – $620 CIF for meat and bone meal.
Trading out of Australia and New Zealand was mostly steady, but prices for MBM did move higher in the Australian market. The move comes despite continued strong supply. Cattle slaughter remains high in Australia, with the MLA estimating national slaughter last week at 126,585 head, just off of the multi-year high seen two weeks ago at 127,337 head.
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