Prices Continue to Tumble on Excess Near Term Supply

Prices Continue to Tumble on Excess Near Term Supply

It was another day of steep drops in the animal fat, used cooking oil and distillers corn oil markets. Logistics continue to be a struggle for many in the market and finding new buyers, or new destinations for previously booked rail cars has been the main driver of the lower prices. This has been especially true in the Midwest, which outside of the UCO market, is the largest origination point for most fats, oils and greases. It’s reasonable to expect further downward pressure in the DCO markets as rail shipments into the Gulf continue to be delayed and the IN/OH and NE/KS market fall more in line with this morning’s trades into Manly, IA and the FOB prices for IL/WI and the Missouri River. 

Weekly averages tumbled this week after Hurricane Ida shut down trail traffic into the Eastern Gulf market. DCO had the biggest drop at 8.5 percent, followed by CWG at 8.4 percent and packer BFT at 6.9 percent.  Rail traffic may start to open in the short term, but a myriad of…

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