The market was fairly quiet heading into the weekend. Bleachable fancy tallow prices seem to have settled down after the renderer trade at 22 cents Chicago. The market is teetering between strong supplies and favorable prices relative to soybean oil and corn at the moment. Slower demand for the Chicago market has translated to lower prices, but at 19.5 cents FOB Missouri River BFT has a relative price to nearby corn of 334 percent, 78 points under the prior three year average for July. That value relative to corn and the large number of animals on feed, even outside of the livestock already at finishing weight, add risk for a price reversal in the near term.
Figure 1.
…
04.18.2024
Total RFS blending falls in March, domestic biodiesel blending increases
The Environmental Protection Agency (EPA) reported 1.66 billion gallons of renewable fuel blended within the nation’s transportation fuel pool during March. Blending was six percent below February and...
04.18.2024
EU UCO premium to US continues to grow
The US animal fats and oils market was mostly quiet on Thursday April 18, with a handful of price changes reported. Choice white grease (CWG) into the Missouri River...
04.18.2024
Ruminant meat and bonemeal price pressure in most regions
Price pressure was reported on several regions for meat and bone meal, ruminant and porcine items. Market sources said buyer pushback and light demand, with exception to the pet...