The market was fairly quiet ahead of the long, holiday weekend. Sources indicated that there is negative price pressure in the market, but sellers were hesitant to book material at lower prices due to the short production week, next week. The biggest decreases were in the porcine bloodmeal market, which fell 1.2 percent from the prior week’s average and ruminant MBM down 1.2 percent as well. Porcine MBM is down 1 percent from last week’s average. Soybean meal was relatively flat week on week, falling $3 from the prior week’s average.
Figure 1.
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04.19.2024
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
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
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...