Trading was mostly quiet today with no changes reported. There is upward momentum building in the grease markets with choice white and yellow both favorably priced relative to corn, soybean oil and the rest of the animal fat and vegetable oil complex. Bleachable fancy tallow traded this week at steady prices for packer material, 32 cents per pound Chicago. Tech tallow was last offered and unsold at 33 cents Chicago after trading in light volume a week ago at 35 cents. There isn’t much nearby interest in the Chicago technical market at 33 cents, but there are indications that price ideas outside of the 30-day window are higher. Today’s market has a relative price to soybean oil of 88 percent, 15 points under the prior three year average for November. Tech tallow has historically had a premium to packer BFT of 4 cents in November and December, which would price the market near the current edible price. The fundamentals suggest tech prices are due for a…
11.12.2024
Glycerin prices seen supported by declining biodiesel margins
Glycerin is a co-product of biodiesel production, and its supply is dependent on biodiesel margins. The more profitable the margin environment for biodiesel, the larger the supply of glycerin....
11.12.2024
Animal fats and oils prices stable amid losses in vegoil markets
"I think the big drop in soybean oil had everyone take a pause,” one source said.
December soybean oil futures closed at 46.23 cents per lb on Tuesday, down by...
11.12.2024
Meat and bonemeal, bloodmeal higher on active demand
Prices were highly mixed on Tuesday November 12, with active demand reported by market sources.
Porcine meat and bonemeal prices were steady to higher according to sources...