04.24.2024
Biodiesel output strong in Q2; producers start locking in Q3-Q4 sales
A second producer echoed this sentiment and said they have had to work a bit harder to secure feedstock to line it up with sales at the right time.
Twelve cars of packer BFT traded up sharply today. Tight nearby availability tied to production issues and higher ffa levels limiting supply of max 4 BFT is meeting some short positions, driving prices sharply higher over the last couple of weeks. Renderer BFT was bid higher today as well for up to ten cars with sellers not willing to sell as of press time.
Hog slaughter finished last week at an estimated 2.5 million head, up 8 percent from a year ago levels. The slaughter is forecast to trend higher over the next six weeks, projected at 2.6 million head this week and to 2.7 million head on the week ending September 19th. Production over the next six weeks is forecast at an average of 2.59 million head, up 4 percent compared to llast year and 5 percent higher than the prior six week average.