Renderer bleachable fancy tallow (BFT-R) traded higher today. BFT-R closed the month at the highest level since 2011. While the price is the highest in ten years, the relative price to soybean oil is 96 percent, just over the 94 percent from 2020 and 93 percent from 2019. Soybean oil and palm have led the charge higher and strong demand from the renewable and oleochemical sectors have supported the upswing. Palm oil moved higher again today and values remain well above Chicago BFT, arrival times for palm oil purchased today wouldn’t likely be before March. The soybean oil market is volatile and a drop in prices could pressure March values lower, but any February needs that are outstanding are going to have to be filled at steady to higher prices. The rate of increase is likely to slow, it is reasonable to expect higher prices in the BFT…
11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...