Prices moved higher on a number of products today, but the overall tone of the market was fairly quiet coming off the long holiday weekend. Demand for low carbon intensity (CI) feedstocks for renewable fuel production continues to be very strong, especially or used cooking oil (UCO), as evidenced by the big jumps in that market today. It’s reasonable to expect the trend for higher UCO prices to continue as demand in the US and abroad is very strong. Buyers in the EU have been willing to pay a higher FOB prices out of the US due to shipping issues and costs for material out of the Asian markets.

Cattle slaughter finished last week at an estimated 640,000 head, down 1.7 percent from the week prior. Slaughter is forecast to move lower over the next six…