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Meat and bone meal prices into Indonesia fell $10 from the prior week's high of $650 CIF, with New Zealand export values down NZ$30 and Australian export prices down A$15. The declines followed lower soybean meal prices and strong Indonesian inventories ahead of Ramadan.
Softer soymeal and ample Indonesian stocks weigh on animal protein export prices, which feed buyers in Asia will see as slightly cheaper protein. Australian prices held down despite tight supply, so the pressure is mainly demand-side.
thejacobsen.comRyan StandardMar 25, 2021Not enough comparable past events yet for a historical read.
Not 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.
