Tallow trading out of the Australian market was higher this week on strong export demand from the renewables sector. Production remains tight with slaughter falling to an estimated 111,521 head last week. COVID interruptions have contributed to the lower numbers, but herd rebuilding is also contributing to the slowdown in production. Cattle slaughter had been at a dead sprint over the last year and big drops in female slaughter and high young cattle prices are all indications of a period of rebuild. Trading out of the New Zealand market was higher as well with strong demand from the renewable sector boosting values. Prices may start to hit a ceiling in the near term, despite the tight supplies, due to a widening spread to palm stearin. The near term outlook for palm oil is firm, but lower prices later in the third quarter may act as…
11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...