A negative tone persisted in the global fats market this week, although downward changes were relatively limited. Indications were steady out of the Australian and New Zealand, but pressure from weakness in the US market, slower trade flows into Singapore and heavy production are weighing on the market. Hot and dry weather are pushing more cattle in the abattoirs in both New Zealand and Australia. The MLA estimated national cattle slaughter for last week at 131,488 head, up 1.1 percent from the week prior.
Trading in the European Union was lower this week for fats and used cooking oil, although the UCO market did recover some today. Bids throughout the week were indicated in the US$810 – 820 CIF ARA range, but trading was indicated as high as $870/mt on Thursday.
…
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...