Fat prices in Australia were steady this week with no changes reported. Sellers are pushing for higher prices basis tight production. Cattle slaughter remains low with the MLA estimating last week’s production down 27 percent from year prior levels. Renewable fuel buyers are pushing for lower prices basis the move lower in the vegetable oil markets last week, but thus far the market is at a stalemate. It’s reasonable to expect a quiet stretch in the near term with Golden Week underway in China.

Cat 3 and edible fat prices traded higher in the EU market. The stronger veg oil market in September combined with strong demand helped to boost prices. Weaker UCOME demand has pressured the EU UCO market lower, trading was indicated €770 – 790 DDP Northwest Europe and in the UK market. Gasoil futures are down 14 percent over the last two weeks,…