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.
Trading into China and Indonesia was higher today on limited supply out of the Australian and New Zealand markets (New Zealand for Indonesia) and continued increases in shipping costs. Sources indicated that strength in the soybean meal market has been supportive of higher prices into China and Indonesia as well. Buyers in China have been active to ensure coverage ahead of and through the New Year celebrations.
MBM prices for domestic and export sales were higher for Australia over the last two weeks. Tight supply continues to support the market and the expectation for holiday reductions is giving the market a boost ahead of the end of the year. The MLA estimated Eastern States slaughter for Australia at 88,895 head for last week. Ovine meal prices were sharply higher for both Australia and New Zealand. Demand for 2022 is very strong…