04.24.2024
Biodiesel output strong in Q2; producers start locking in Q3-Q4 sales
A second producer echoed this sentiment and said they have had to work a bit harder to secure feedstock to line it up with sales at the right time.
Ahead of the Thanksgiving break the tone of the market seemed to be, “…get back in there and sell, sell, sell.” The market was much quieter today, at least in the tallow market, with no official offers reported, but plenty of indications that material is still available at the last offered price. If there is no action in the renderer BFT market tomorrow the price will be unquoted at the end of the day.
Distiller’s corn oil did trade lower on Friday and again today. There were distressed loads indicated in a range of 45 – 50 cents per pound FOB this morning, but the bulk of Dec and forward trading was done within the printed range.
For the week ending December 4th, 2021, cattle slaughter is forecast at 660,000 head, a 1.4 percent drop from 2020; a 16.6 percent growth from the previous week due to Thanksgiving downtime; and a 3.2 percent decline from 2019. According to the USDA Actual Slaughter Under Federal Inspection for November 14th