Diverging FOB and delivered markets to close out March

Diverging FOB and delivered markets to close out March

Please note – The Jacobsen will not publish an Animal Fats bulletin on Friday, March 29th in observance of the Good Friday holiday.

Trading was quiet ahead of the long weekend with most indications steady. Distiller’s corn oil was lower on an FOB basis out of the Mo. River and IL/WI markets. The tone in the market for nearby sales has cooled from the hot market seen just two weeks prior.

Several buyers seem to be fairly well covered for the nearby position, and sellers have been much more willing to offer at the last traded level into the US Gulf market.

For the week, price direction has been mostly steady to lower although choice white grease and distiller’s corn oil (DCO) prices were higher on a weekly average basis for the FOB Mo. River market. Choice white grease was up 1.5% at an average of 37 cents lb, and DCO was up 2.9%, averaging just under 44 cents lb.

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