Shipping Limitations Continue to Weigh on Grease Prices

Shipping Limitations Continue to Weigh on Grease Prices

There were offers at steady to lower prices on a Chicago basis today with no trading reported in the tallow or choice white grease markets. CWG traded lower FOB Mo. River and Indiana today as pressure continues to build in the truck market. 

Buyers and sellers continue to struggle with spot market logistic. Demand for CWG in rail cars helped push the Missouri River market to record highs compared to corn and soybean oil. The August monthly average relative price to soybean oil was 102 percent, tied for a record high with July of 2014. Grease supplies were very tight in 2014 due to losses from the porcine epidemic diarrhea virus (PEDv) and values were shortly lived above 100 percent. The relative price to corn hit an all-time high in July at 635 percent, up from the 556 percent record set in July of 2014. From July to present, the average relative price of CWG to nearby corn is 560 percent, which is above the previous one month record high. 

These record high…

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