March 7, 2008

Australia's February meat meal prices up 4 percent
 

Australian meat meal prices in February have increased by 4 percent to AU$612.2 per tonne from January due to low supplies.
 

The current average cost of AU$612.2 per tonne is also a 51-percent increase from February 2007.

Domestic users have been able to compete with export demand due to the higher value of the Australian currency.

Meat meal prices are expected to remain stable in March, as feed millers in overseas markets are resisting the high prices.

Meanwhile, the US has exported limited volumes of meat meal to Indonesia. US' February meat prices have also soared by 13 percent to US$397 per tonne compared with January 2008.