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New Zealand ovine MBM (55% protein) traded higher in the week to December 19, at NZ$1,450-1,525 per tonne, supported by European demand. Indonesian bovine MBM imports fell to $475-490 per tonne CIF amid slower demand, and mixed beef MBM sold as low as $207 per tonne FOB US interior.
Diverging regional prices show uneven demand for MBM, with European buying supporting ovine product while weak US and Indonesian demand pulls bovine prices lower.
thejacobsen.comAlexandra WattsDec 19, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
