04.23.2024
Rising BOHO spread spurs RIN values higher
Despite the move higher, D4 RINs are down 2% in value from the previous week. RIN prices are receiving support from the rising bean oil/heating oil (BOHO) spread, which...
**Please Note** The Jacobsen will not publish an International Animal Proteins Bulletin next Thursday, November 27th due to the Thanksgiving holiday.**
Meat and bone meal prices are higher into Vietnam, Thailand, Indonesia, and China this week. A big part of the CIF cost is from the logistical premiums, but also from tight supply in the Australian and New Zealand markets. Buyers in Asia are paying a premium for ANZ, or in the case of Indonesia, NZ, material due to shorter shipping times. Material continues to trade out of the US into Indonesia at the bottom end of the range, but US sellers are struggling with rail, chassis, port and container access and availability issues.
Australian prices were flat this week, but there is risk for prices to move higher in December on tight supply. The MLA estimated Eastern State slaughter just below 90,000 head for last week. Poor…