The oil sector had a strong week, which isn’t likely a surprise as more and more of the country is beginning to come out of the shelter within orders that have been in place. WTI crude gained 25 percent, which sounds nice, however, current prices remain 60 percent below levels seen at this time a year ago. Heating oil loosely followed crude, gaining 13 percent of for the week but, like crude, values trail last year’s levels by 56 percent.
The Jobs report released earlier today showed the US lost 20.5 million jobs in April. Borrowing a Tweet from GasBuddy’s Patrick De Haan, that’s the total of everyone in a city the size of Seattle losing their job – every day…
Soybean oil edged higher for the week, gaining 1.5 percent to 26.54 cents per pound for July delivery. The bean oil/heating spread benefitted from the strong run in crude, as the spread declined 6.6 percent to…
12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...