The yellow grease, choice white grease and poultry fat markets traded at higher prices today. Soybean oil and higher prices on tallow have contributed to the upswing in the grease and poultry fat markets. The overall tone of the market was relatively quiet. The May soybean oil contract settled at 57.02 cents per pound today, up 0.65 cents from yesterday. Intraday trading was as high as 58 cents per pound, which pushed a number of sellers to the sidelines. Buyers were having a hard time drawing out offerings, but the sinking heating oil market did little to entice biofuel producers to pay higher prices. The heating oil – bean oil (HOBO) spread widened again today, but RIN values failed to increase enough to offset the change. Soybean oil has led the charge higher, but a weaker heating oil market and flat RIN prices may pose a risk to the longevity of the price rally and may start 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...