The overall tone of the market was quiet today with not a lot of volume traded. Distiller’s corn oil (DCO) did trade lower into the Gulf market late yesterday in a range of 47.5 – 48.5 cents lb, with most indications within that range today. DCO trading on an FOB basis was higher in trucks, up to a high of 45 cents lb FOB Midwestern locations.
Used cooking oil traded into the Gulf market in a range of 41 – 42.5 cents lb delivered for April. Tallow was steady at 41 cents lb and yellow grease was down, trading in a range of 39.5 – 40 cents lb.
There were more indications of slower demand for April and May into the Gulf market and the environment of perpetually higher offers seen two weeks ago has disappeared. Despite the outlook for less demand for the nearby market, the long holiday weekend and slowdowns in meat production from the packing sector is offsetting some of the negative momentum.
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US broiler slaughter
Fastmarkets' research team...