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...
The market was very quiet today with the only action coming from a bid to buy four cars of renderer BFT at 70.5 Chicago basis and choice white grease at a flat 66 cts/lb FOB Mo. River. Soybean oil reversed early losses after the NOPA crush report showed lower than expected stocks.
For the week, weekly average prices were generally higher. The biggest move was in the Mo. River yellow grease market, up 1.9 percent from the prior week’s average at 54.5 cts/lb. CWG moved higher out of the Mo. River market, up 0.8 percent and packer BFT was up 0.4 percent for the Chicago market after trading at 69.5 cts/lb midweek.
Soybean oil did move lower with the weekly average for the October contract down one percent, closing the week at 62.3 cts/lb.
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