Fat market rally continues on tight supply, continued strong demand

Fat market rally continues on tight supply, continued strong demand

Four cars of renderer bleachable fancy tallow (BFT) traded at 53 cents per lb Chicago basis on the morning of Friday June 21.

A car of lard traded up to 49 cents per lb Chicago basis on Friday as well.

High ambient temperatures across much of the US and a slower cattle harvest are limiting nearby supply, and strong demand from the chemical, feed and renewable sectors are driving the price of low free fatty acid material higher.

For the week ended June 21, weekly averages were all higher relative to the week prior.

Chicago packer grade BFT was up 6.8% after trading up to 51 cents per lb on Thursday, finishing the week at an average of 48.5 cents per lb.

Used cooking oil delivered US Gulf was up 3.6% after trading up to 46 cents per lb on Thursday.

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