Export prices for tallow were steady to higher this week out of the Australian market and domestic trading was lower. Supply remains tight coming off of the holiday break and the seasonal supply constrictions have been exacerbated by COVID related staffing issues at a number of plants across Australia. Eastern state slaughter was estimated by the MLA at 38,219 head for last week. Slaughter is roughly 30,000 head lower than 2021 levels and 76,000 head lower than 2020.

The premium grade tallow, i.e., 1 and 2 percent ffa, were indicated lower while 4 acid and higher tallows traded higher. Supply remains tight in New Zealand as well due to seasonal slowdowns.

Cat 3 and edible prices are higher again in the EU market. Strong demand from a number of sectors has helped to boost values and stronger vegetable oil prices are supporting the market as well. Used cooking oil values are up in the EU interior on strong demand from the renewable fuel producers.

US UCO bids are…