Fat Market Directionally Confused Due to SBO Volatility

Fat Market Directionally Confused Due to SBO Volatility

**Please Note – The Jacobsen will not publish an Animal Fats Bulletin on Friday, April 2nd. We will resume our normal publication schedule on Monday, April 5th.**

Ten cars of packer bleachable fancy tallow (BFT) were offered out at 55 cents Chicago today and unsold as of market close. The May soybean oil contract settled 2.46 cents per pound higher today after the USDA planting intentions and stocks reports came in under expectations. Most buyers seemed to be taking a wait-and-see approach this afternoon. Yellow grease did trade lower out of the Illinois and Missouri River markets in some early day action. Both biodiesel and feed buyers had dramatically lower bids out from last week through today. While an increase in soybean oil prices suggests higher fat and grease prices, the lower heating oil and RIN prices will do little to encourage biofuels producers to increase their bids. Feed buyers in the…

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