Trading was quiet to start the week. The risk for higher prices remains high, but buyers and sellers were on the sidelines to start the week. Negative direction in the grain and vegetable oil markets is giving buyers some optimism for lower prices, or at least a ceiling, but the nearby supply and demand fundamentals are suggestive of another level of correction to the upside for tallow and greases.
Hog slaughter finished last week at an estimated 2.85 million head, five percent over the same week in 2020. Slaughter is forecast to trend lower over the next six weeks, falling from a projected 2.7 million head this week to…
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...