Trading was quiet to start the week. Most buyers and sellers seem to be taking a wait-and-see approach to the market after Friday’s tumble in the soybean oil and RIN markets. Malaysian palm stearin prices have plummeted and are now offered at a sharp discount to Chicago bleachable fancy tallow (BFT). The wide spread adds risk to the market for lower BFT usage from the chemical sector in the July/August window. 

Hog slaughter bounced back last week with a 23.5 percent growth week-over-week with an estimated slaughter of 2.440 million head. The previous week’s slaughter of 1.975 million head was due to the long Memorial Day weekend combined with JBS closures. Hog slaughter this week is anticipated to show a modest decrease week-over-week with a 2.4 million head call, as continued reports of limited Saturday slaughter remain noted…