Late yesterday three cars of packer BFT traded at 67 cents Chicago. Today, trading was down further with ten cars traded at the bottom end of the range. Sources speculated that the nearby availability may be liquidated at this point, but it’s reasonable to expect prices to consolidate at the bottom end of the range after today’s trading with buyers unwilling to pay the top end of the range moving forward. 

The Midwestern truck market is likely to continue to slide on increased grease availability in the short term. Similar to the vignettes of late-night travelers passing the no-vacancy signs, sellers needing to move material are on that same road. Feed buyers have formulated fat out of rations, or dramatically reduced inclusion rates due to high prices to corn, biodiesel tanks are full or buyers are passing on animal fats due to cloud point concerns and rail cars for transloading are…