Trading out of the Australian market was steady this week with no changes reported. Cattle slaughter was lower, down 7 percent compared to the week prior and 12 percent relative to last year. Cattle slaughter in New Zealand is expected to pick up as lockdown restrictions have eased. The anticipation of increased supply and slower demand from Singapore and China has pressured prices lower.
The domestic US market is splitting into two separate sectors, tallow and everything else. Strong demand from the chemical industry and soap producers is keeping the market well supported. Technical tallow last traded at $942.50 MT Chicago and BFT is trading at $772 MT Chicago. Feed fats, i.e. yellow grease, choice white and poultry fat, are seeing pressure from increasing production meeting lower demand. High prices and uncertainty about access to processing pushed livestock feeders to lower fat inclusion in their diets. Slaughter has increased this…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...