Three cars of choice white grease (CWG) traded down to 61 cts/lb Chicago today. Trading was also done lower out of the FOB markets for CWG. Trading was lower for distiller’s corn oil (DCO) as well, and bids for UCO, DCO, tallow and CWG were lower in several markets, both FOB and delivered. Gulf indications were down by as much as five cts/lb on continued weakness in the RINS market, which contributed to the selloff in the soybean oil today.
The Israel-Hamas conflict contributed to higher prices in the energy futures today, with both crude and heating oil markets up. Despite the higher prices there was a bearish tone to the feedstock market, which was a function of demand concerns, as evidenced by the slide in RIN values, indicating oversupply in the market. The margin compression tied to the RIN prices pushed bids and trading sharply lower.
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09.19.2024
SAF roadmap, collaborations announced at Bali International Airshow
At the event, coordinating minister for maritime affairs and investment Luhut Binsar Pandjaitan said he would call on Indonesian state-owned oil and gas company Pertamina to collaborate with airlines...
09.19.2024
US Gulf UCO prices edge higher; feedstock costs, REG Geismar fire create uncertainty, sources say
The US animal fats and oils markets — apart from used cooking oil (UCO) — were stable on Thursday September 19, with attention shifting toward broader macroeconomic trends.
09.19.2024
Animal protein prices steady; August cattle, hog slaughter down
US animal proteins were rangebound on Thursday September 19.
August commercial cattle, hog slaughter
Commercial cattle slaughter for August was at 2.66 million head, based on the USDA’s...