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Fastmarkets reports that feathermeal and inedible meatmeal export volumes in 2023 were well above 2022, with feathermeal values up year-on-year through October. Inedible meatmeal exports fluctuated, with June at the lowest volume since May 2020 and a partial recovery in September and October.
Participants cited lower cattle slaughter, a stronger dollar, weaker demand from Vietnam and Indonesia, and higher freight costs.
Lower ruminant slaughter tightens meat and bone meal supply, while weaker export demand and a strong dollar limit upside. Overall values were flat, so price pressure is modest.
thejacobsen.comAlexandra WattsJan 11, 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.
