The potential co-product value received from a grassfed heavy steer (average 331kg cwt) increased 4% year-on-year, averaging $203.69/head.
Despite a high A$ and tough trading conditions, the majority of co-product values rose in July (MLA’s Co-products Monitor).
Beef offal prices during July fell 3% on June, but increased 12% year-on-year, averaging $62.23/head.
While strong demand for certain items helped overall returns, weaker seasonal demand and the high A$ contributed to lower prices in comparison to June.
Hide (281–350 kg) values during July climbed 14% on the same month last year, averaging $54.19/head.
This year-on-year increase was largely due to low values last year, with ongoing weak demand from Europe continuing to restrict hide prices.
The average price of meat and bone meal during July increased 20% year-on-year, to $33.41/head.
Due to the worsening drought conditions and expectation of a relatively low soy crop, soy prices have risen, with meat and bone meal prices following accordingly.
Demand from Indonesia for Australian meat and bone meal was also strong throughout July.
Tallow values decreased 20% on the corresponding month last year, averaging $52.86/head. Underpinning the decline was subdued demand from China, as well as weaker palm stearine prices.
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