Market Activity

Tech tallow traded in good volume, apx 2.4 KT for June and July at $0.2900 Gulf. May action was done just outside of the 30 day window at $0.3000 Chicago for but for smaller volume. The BFT market was quiet. Cattle on feed numbers were released today showing continued big numbers on inventory. The 11.7 million head of inventory on April 1 is 7% above April of 2017 and the second highest April inventory in the series from 1996. Strong cattle kills look to continue…