Porcine BM Supported while Ruminant BM Remains Rangebound

Porcine BM Supported while Ruminant BM Remains Rangebound

A wait-and-see attitude was held by most participants today with volatility in the markets due to a combination of the upcoming harvest yields and quality as well as renewed fears of the Delta COVID variant. Porcine bloodmeal (BM-P) witnessed support with accounts of thinner offerings in the market from slower line movement and active demand. Ruminant bloodmeal (BM-R) had reports of diminished export offerings increasing the supply in the domestic market, however, locations remained rangebound for the day. BM-R Missouri River witnessed wide ranges for the middle of July with the current price for the month averaging $966.04/ST. Even though this is less than a one percent change from the prior month, this is an 83 percent increase year-over year and a 57 percent hike from the 3-year average. A seasonal decline can be witnessed below in Fig 1, with the 3-year average dropping 10 percent from June to July. Looking at Fig 2 below, one can see the percent of upward moves for the past…

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04.19.2024

Reduced March RIN production not leading to higher RIN Prices

Reduced March RIN production not leading to higher RIN Prices

Total March biofuel RIN production was 1.9 billion RINs, which was 6% below February and 15% below December’s RIN output of 2.25 billion. December had the largest monthly production...

04.19.2024

CWG, YG higher on week, UCO, DCO down again

CWG, YG higher on week, UCO, DCO down again

The market was quiet heading into the weekend. Used cooking oil (UCO) traded in large volume into the Gulf at 40 cents per lb delivered in the truck market.

04.19.2024

Price pressure on ruminant and porcine items for the week

Price pressure on ruminant and porcine items for the week

Sloppy markets were reported for porcine and ruminant items at the close of week ending Friday April 19.

Wide ranges were witnessed on porcine bloodmeal (BM), with a...

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