09.29.2023
Vegetable Oils & Animal Fat Prices Post Week on Week Drop
The market was fairly quiet today with traded volume slowing, but trading still done at lower levels. Gulf BFT traded down to 66 cts/lb delivered late yesterday. Ample nearby...
Trading was mostly quiet today with many in the market seemingly well covered ahead of the holiday break. Buyers and sellers were happy to trade steady prices across most markets. BFT prices were lower into the Gulf today on trading from late yesterday. UCO prices moved higher into the Gulf and indicated as “firm” in most other markets today.
Seasonal downtime continues in the ethanol industry as evidenced by today’s EIA Weekly Petroleum Status Report. The EIA estimated ethanol production for last week at 983,000 bbl/day, down 4,000 barrels per day from the prior week and down 41,000 bbl/day from the Q1 average.
The Jacobsen estimates distiller’s corn oil (DCO) production at 9.3 million pounds per day, down 3.0…