Trading was very quiet today with no changes reported. There remains upward pressure in the tallow markets as buyers look to cover in material for Jan from a well sold market. Choice white grease prices were up again this week as sellers look to close the spread to tallow and buyers are left with few options. The fundamentals suggest feed and biodiesel buyers are starting to get altitude sickness at current levels. The HO-CWG spread currently sits at a – 74 cents per gallon and the current economics don’t leave a lot of room on the upside of the fat market for a positive margin. It’s unlikely that many plants are running on pure choice white grease this time of year. To offset the high price of veg oils needed to keep cloud points lower, buyers are…
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...