Global Prices Rise on Stronger Veg Oil, Pockets of Tight Supply

Global Prices Rise on Stronger Veg Oil, Pockets of Tight Supply

Fat prices moved higher out of the Australia and New Zealand markets this week. Continued reductions in slaughter and additional demand from the renewable sector has contributed to the upswing. Cattle slaughter in Australia fell below 100,00 head for the Eastern States last week with numbers estimated at 97,793 head by the MLA. Two major processing plants, JBS Dinmore and Brooklyn have been idled. Sources have indicated tight cattle supplies have contributed to the downtime.

There was mixed direction on Cat 3 and edible trading this week with lard and edible tallow moving higher and pure beef tallow falling by €10. Sources have reported lackluster oleochemical demand for the nearby market, but biodiesel interest for the fourth quarter remains strong. UCO price are fairly steady for material ex-works Northwest Europe. Chinese origin material is up US$20 – 30 CIF ARA on continued, strong demand.

Trading in the domestic US market has been quiet for tallow, all…

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