Export values for tallow out of the New Zealand and Australian markets are unchanged. Demand from Singapore has marginally decreased, but a favorable price to palm and soybean oil has increased China’s demand. Production remains tight in both the Australian and New Zealand markets. The MLA estimated slaughter at 116,813 head last week, down 24 percent from year-prior levels.
Export values out of North America are unchanged. There is some resistance from Mexico at current values for BFT, but there has been enough demand in the interior and from markets with biofuel demand to keep prices supported. The same holds true of used cooking oil, with direction from the EU supporting the East Coast market’s top side.
Domestic trading has been mostly steady this week, with few changes reported. The North American Renderers Association has their meeting underway this week, and the election has pulled some attention away from day-to-day activities. Polls once again were way off,…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...