Tallow Production Expected to Increase Through April

Tallow Production Expected to Increase Through April

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…

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Fastmarkets assessed

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at $370-420 per short ton on Wednesday, widening downward from $380-420 per ton on Tuesday April 23.

And Fastmarkets’ price assessment for
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