Strong Veg Oil Market Supporting Animal Fat Prices

Strong Veg Oil Market Supporting Animal Fat Prices

Tallow prices are steady for export and higher for domestic trading in the Australian market. Demand has been steady, and the tight supplies are generating positive price momentum for the November market. The MLA reported eastern state slaughter at 88,758 head last week, down 35 percent from year-ago levels.  Trading out of New Zealand was steady on tight supplies, but buyers are pushing for lower prices. With palm stearin trading in the upper $700’s this week, four acid BFT at the US$ equivalent of $650 is a good value. There was a report of significant volume sold to China for November shipment.

Reports on UCO were quiet this week out of the European market. There were suggestions that prices may be under pressure due to COVID outbreaks and the impact on biodiesel demand. Cat 3 and edible fat prices traded higher this week, and there may be some supply concerns tied to rising COVID cases in parts of the UK and EU.

The local US market has been mostly steady,…

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