Market Activity

Trading was quiet to close out the week. Off spec material has become more common with high temps blanketing much of the Midwest and South over the last couple of days.

Chicago packer BFT finished the month of July at a relative price to soybean oil of 97%, on par with the prior three year average of 95%. The market was well supported by chemical demand as well as less than expected slaughter numbers. Heavy slaughter totals in the second half of August could…