Tallow prices are steady out of the New Zealand and Australian markets. Sellers continue to see interest from North America, but high freight rates and limited production are restricting trade. The MLA estimated Eastern States cattle slaughter at 95,025 head for last week. The Australian cattle slaughter picked up in late June and early July, but the numbers remain well below the prior three-year average.

Category 3 and edible prices are steady into Northwest Europe. Sources continue to indicate tight supplies and a well sold market. UCO prices are lower into the ARA market, but the downturn may be short lived on a resurgent vegetable oil market and growing demand in the US. High freight costs continue to limit trading into the EU and UK out of Asia. The last traded price of $1225/MT FOB US is likely gone with bids indicated as high as $1400/MT delivered US interior for September. Renewable diesel capacity in the US is expected to grow by 40 percent between now and January…