Tech Tallow Prices Uncommonly Tight to BFT

Tech Tallow Prices Uncommonly Tight to BFT

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…

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