The potential co-product value received from a grassfed heavy steer (average 331kg cwt) during September increased 4% year-on-year, averaging $209.87/head, with most co-product items also increasing in price from August (MLA’s Monthly Co-products Monitor).
Beef offal prices remained steady on August and increased 5% year-on-year, averaging $62.35 per head. Weak demand in Japan at the cessation of the summer barbeque season was offset by firmer demand in Russia and China. The lower A$ at the beginning of the month also assisted prices in remaining buoyant.
Meat and bone meal (MBM 50) rose 2% on last month and climbed 29% from September last year to an average price of $37.13/head, supported by firm domestic demand and high soy bean meal prices. Indonesian demand stabilised, despite resumed MBM 50 trade with the US.
The average price of hides (281-350kg) improved slightly, up 1% month-on-month and 4% from the corresponding period last year to $58.28/head. Supplies were tight coming out of the winter months, although demand from export markets was weak, caused by subdued demand for leather goods.
Average tallow ($52.11/kg) prices improved 2% from last month, however were down 19% year-on-year, as prices remain under pressure from cheaper palm stearine and crude oil. Nevertheless, firm domestic demand is reported in the southern states, potentially stabilising tallow prices through October.
Source: Argentine Beef Packers S.A.
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