Trading was quiet in the Australian market with November tenders underway. Price indications are steady heading into next week. There is some pressure from the renewable sector for lower prices out of both Australia and New Zealand, but with palm stearin trading at US$800 FOB Malaysia, buyers don’t have a lot of optionality. Additionally, cattle slaughter remains very tight in Australia. The MLA reported eastern state production at 109,406 head, which is down 29 percent from year-ago levels. The Jacobsen is forecasting continued, low slaughter numbers with restocking and herd rebuilding underway. COVID-19 looms over the market and adds risk for further production limitations, and holiday downtime is not far off.
The US market is steady to higher on bleachable fancy tallow (BFT). Chemical demand has supported the market, and 2020 may be a year where prices don’t see a seasonal downswing. The US’s overall lipid market appears tight, and buyers stepping away from steady to…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...