It was an active trading day with higher prices showing up in a number of markets. Chicago packer bleachable fancy tallow (BFT) traded higher today, following yesterday’s action in the renderer market. Technical tallow was higher today as well into/through the Chicago market as was choice white grease (CWG). CWG FOB Mo. River trading was done at higher levels, topping out at 33 cent per pound FOB. As indicated yesterday, the corn market should allow room for a few more cents on the top side of the market and the wide spread to BFT is certain to be a bit motivation to sellers to move the market.
There remains additional risk in the market for higher BFT and tech tallow prices in the near term. Renewable demand continues to be very strong and sellers are seeing higher numbers outside of the Chicago market. The optionality for buyers is limited, both in terms of price and availability. Palm stearin continues to trade above $1000/MT FOB Malaysia. Palm stearin into the Gulf or…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...