What a difference a day (or weekend) can make. Friday closed the week with a bearish tone with bids for fats, oils and greases lower after soybean oil (SBO) futures and RIN prices plummeted on Thursday. Today, soybean oil is limit up and the few offers that are out are shaprly higher. Trading on a whole was quiet with most on the sidelines, but three cars of packer grade bleachable fancy tallow (BFT-P) traded up 4.5 cents Chicago this afternoon. The higher trade on BFT-P was tied more closely to the recent renderer grade BFT trade than today’s action in the SBO market.
Cattle slaughter finished last week at an estimated 647,000 head, down 2.7 percent from the week prior and up 1 percent from last year. Slaughter is forecast out at an average of 639,800 head over the next six weeks, up 1.3 percent from the prior six-week…
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...