Trading was quiet coming off of the long, holiday weekend. Soybean oil futures were up today but the sinking heating oil market will do little to entice biofuels producers to pay higher prices. The general tone of the market heading into the first, full week of April is corrective to the downside. Bleachable fancy tallow remains offered and unsold at steady prices and early indications are that most buyers are well covered for their nearby positions. Cattle slaughter finished last week at 609,000 head, down 6.2 percent from the week prior. Slaughter numbers are forecast to pick back up this week to an estimated 660,000 head. Over the next six weeks slaughter is forecast at an average of 644,000 head, up 1.5 percent from the prior six week…
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...