11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
August 27
The market remains quiet. Slaughter continues at full pace.
There are many hides offered, both raw fresh and raw wet salted, but the raw fresh continue to be delivered at zero pesos.
Most tanneries continue to work at minimal capacity, some at 20-30% and others a little more.
Prices of semi and finished leather continue to be depressed. About 800,000 raw wet salted hides were exported while the export rate exception continues.
Good quality Buenos Aires wet salted heavy steers prices continue unchanged, quoting around US$0.04 per kg.
Recovery is not noticeable for now.
Some believe that from…