There was a good amount of trading this afternoon at mostly lower levels. The lower prices were mostly from pressure from the soybean oil market, that while higher today, had been trending lower and on reports of demand loss from the renewable side of the market. Sources had been reporting lower bids on tallow, grease, UCO and DCO through the week and some sellers seeing some outlets close opted to sell at lower numbers today.

UCO traded in a range of 63.5 – 64.5 cts/lb del Gulf late yesterday and today. There was good volume done at the top end of the range, but volume was reported as low as 63.5 cts/lb as well. There is pressure on the Midwestern FOB markets due to the lower Gulf numbers as well as on reports of buyers stepping out of the market due to well covered October positions, some with lower priced soybean oil.

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