Price Slide Continues on Ida Related Displacement

Price Slide Continues on Ida Related Displacement

Trading was lower today on carryover from Friday afternoon and additional tonnage today. Five cars of tech tallow traded lower on a Chicago basis today. Ten cars of technical tallow traded late Friday outside of the Chicago rail corridor, but at the equivalent of 67 cents Chicago and 21 cars of packer BFT traded outside of the Chicago rail corridor at the equivalent of 54 cents per pound Chicago. Sellers continue to cut prices in an effort to move the nearby material that needs to find buyers. Renderer BFT will be unquoted tomorrow if there is no trading by the end of the day (3pm CT). 

Price cuts to attract demand was the theme again today with choice white grease, distillers corn oil, used cooking oil and poultry fat trading lower in addition to the lower, tallow trades. An estimated 47.5 million pounds of weekly demand may be deferred until mid to late October due to the impacts from Hurricane Ida in the Gulf and sellers are scrambling to find new buyers for this…

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