Please note – Fastmarkets will close assessments for animal fats and oils on Fridays through August 30 at 12pm US Central Time, with publication shortly after.
Trading in the US animal fats and oils market on Friday May 24 was very quiet ahead of the holiday weekend.
A railcar of lard traded at 43 cents per lb Chicago basis late on Thursday May 23.
Weekly average prices for animal fats and oils went up in the week ending Friday, driven by a stronger soybean oil market, higher renewable identification number (RIN) prices and strong multi-sector demand.
The weekly average for 2024 D4 RINs was up by 16.4% from the previous week and up by 26.4% from the weekly average on May 3. The increase was supported by a widening bean oil/heating oil (BOHO) spread and talk of a D6 shortfall.
Used cooking oil (UCO) delivered US Gulf had the biggest week-on-week increase, up by 4.1% from the prior week’s average.
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Fastmarkets' research team...