The first quarter of the new year usually sees cyclically lower production. This has been true for most years, but not 2023 due to strong margins and a lot of additional renewable diesel capacity that came online at the end of 2022.
Expectations for Q1 2024 have been mixed. Several producers were announcing slower production runs for the first quarter just a few weeks back. The most cited reasons included poor margins and a surplus of RIN production.
Speaking with several producers earlier today, the sentiment has shifted. Nearly all of the producers surveyed either said they were already sold out through Q1, or they had January sold with no current expectations to reduce production.
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11.12.2024
Glycerin prices seen supported by declining biodiesel margins
Glycerin is a co-product of biodiesel production, and its supply is dependent on biodiesel margins. The more profitable the margin environment for biodiesel, the larger the supply of glycerin....
11.12.2024
Animal fats and oils prices stable amid losses in vegoil markets
"I think the big drop in soybean oil had everyone take a pause,” one source said.
December soybean oil futures closed at 46.23 cents per lb on Tuesday, down by...
11.12.2024
Meat and bonemeal, bloodmeal higher on active demand
Prices were highly mixed on Tuesday November 12, with active demand reported by market sources.
Porcine meat and bonemeal prices were steady to higher according to sources...