03.28.2025
Sausage casings bulletin, March 28, 2025

Runner market commentary
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Last week the RIN market affirmed that other forces may be at play outside of the fundamentals when it comes to RIN values. Biodiesel RIN prices gained two percent across the week, while ethanol values climbed three percent. This happened despite soybean oil prices falling four percent, WTI crude dropping eight percent, and heating oil futures falling five percent. The BOHO spread was down three percent, indicating that “all things being equal”, RINs might decline as well.
D4 production is strong enough to meet mandated needs. June biomass-based diesel consumption of 272.3 million gallons was up eight percent from May and nine percent above June 2020. D4 production has filled nearly 60 percent of the D4 mandate and needs to average about 170 million gallons per month meet the obligation.
The D5 advanced biofuel mandate remains undetermined at this point due to…