Most values on the international protein market were rangebound due to holiday downtime, including the Chinese New Year and upcoming Ramadan. Several markets pushed lower due to the diminished export trade. Australia and New Zealand bloodmeal markets were softer with heightened slaughter levels over the past few weeks. Meat and bonemeal prices were mixed with wider ranges indicated.

The MLA estimated Australian cattle slaughter at 122,577 for last week, up from the week prior by 7.5 percent and 12.6 percent higher than 2023 levels. The yearly cattle slaughter for Australia through the week ending February 9th is estimated at 590,300 head, up 10.7 percent, or 57,250 head, from 2023 levels for the respective time.

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