Animal Proteins – International

Trading into Indonesia moved sharply higher this week, $475 – 500 for MBM. The higher prices can be explained by Econ 101, steady demand and less supply (by government fiat). Buyers are talking reformulations at these levels and given the availability of cheaper soybean meal from the North American harvest, that could be a quick reality. Trading in China was reported $480 – 490. Neighboring SEA markets are seeing cheaper material move in from the AUS…