Trading out of the Australian and New Zealand markets was quiet this week. The wide spread between tallow and palm prices has piqued additional interest in the APAC markets. Production remains limited coming off the holiday break, with Australian slaughter still well below 100,000 head per week. The significant discount to US material should also attract demand in the near term, from buyers in Asia sourcing from the ANZ and US markets and the buyers moving material into the US.
Used cooking oil prices are up sharply into the EU, as well as the UK. Trading into the ARA ports was done in the $975 – 1000 per tonne CIF, with the next traded level likely moving towards $1050 per tonne. Shipments from Asia have slowed, with freight rates up 300 to 400 percent due to container shortages, COVID restrictions in China, and congested ports. North and South American UCO continues to trade into the EU and UK but at higher prices. COVID restrictions continue to limit restaurant activity,…
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...