Premium tallow grades are higher out of the New Zealand and Australian markets on tight supply and surging palm oil prices. Flooding in Queensland and New South Wales have significantly affected the market, further complicating an already difficult supply chain. The MLA reported national cattle slaughter at 79,422 head last week, down 14.7 percent from the week prior and 23.3 percent from 2021 levels.
The Indonesian government announced restrictions on palm oil exports this week, contributing to a surge in palm oil prices on Wednesday. Palm stearin prices were as high as $1900/mt FOB Malaysia on Wednesday. The higher palm prices and historically low cattle slaughter are contributing to the strength in the ANZ tallow markets.
EU trading was higher on the big jumps in palm oil prices, supply concerns and big increases in gasoil prices. Used cooking oil (UCO) bids and offers were reported in a wide range this week due to the extreme volatility in the outside markets….
04.22.2024
Animal fats and oils commentary: CWG prices fall on pressure from DCO
Steady slaughter levels, lower prices into the US Gulf for all feedstocks and lower prices for distillers’ corn oil (DCO) in the Midwestern markets have all weighed on the...
04.22.2024
Cattle slaughter more in line with 2023 as May nears
US cattle slaughter
Fastmarkets research forecasts cattle slaughter at 625,000 head in the week to Saturday April 27, less than half a percent lower than the same period in...
04.22.2024
Central Illinois soybean crush margins hit 5-week high
DDG prices remained steady in all regions on Monday April 22. Market sources said demand remains flat, and reported steady values that align with current price ranges.