*Please note- Ryan Standard will be out of the office until Monday, February 12th. In his absence, please contact Chloe Krimmel at [email protected] or Amanda Luhavalja at [email protected] with any market reports or question.
The week ended on a very quiet note with no changes reported. Choice white grease drifted lower this week, and there were reports of bids below the printed range – but no trading as of 3 pm CT on Friday. Light trading was reported as high 34 cts/lb FOB, but the bulk has been done closer to 33 cts/lb FOB this week.
Bleachable fancy tallow (BFT) prices fell 2.9 percent this week, down 1.2 cts/lb Chicago, from last week’s average. Nearby CME soybean oil futures were lower week-on-week as well, falling 3.9 percent from the prior week’s average. Cash basis levels were sharply lower today as well, compounding the losses in the futures market.
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Fastmarkets' research team...