2023 RIN values remained consistent, and elevated, between April and July. The D4 biomass-based diesel RIN traded near $1.50 and occasionally climbed as high $1.60 per RIN during the period. The market seemed to expect the EPA would revise the 2023 mandate higher, given the sharply increased renewable diesel capacity coming online.
On June 21, 2023, the EPA announced their final mandate decision, and it did not include an increase in D4 blending. RIN values fell approximately 12 cents on the news, but recovered over the next few weeks, and traded as high as $1.60 again in July.
July marked the last high-water mark for RINs. Prices began to slowly roll lower, picking up momentum in September and falling off a small cliff in early October. D4 RINs reached a closing low of just under 80 cents per RIN Oct 10, 2023, but have experienced a slight recovery since then.
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11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...