Tight supplies, strong Chicago markets pull Gulf prices higher

Tight supplies, strong Chicago markets pull Gulf prices higher

Tallow traded in a range of 49-50 cents per lb delivered US Gulf on Wednesday July 10, a jump of 3.5 cents per lb from the last traded level.

The trades followed several reports of higher price indications into the Gulf market over the last week, but Wednesday’s trading marked the first instance of actual reported tonnage.

Choice white grease (CWG) was higher on an FOB basis and trading was done at 49 cents per lb Chicago basis.

Both tallow and CWG have been supported by tight supplies stemming from slower slaughter rates, as well as summer heat affecting fat quality and limiting the amount of sub-4% free-fatty acid (FFA) material available in the spot market.

Yellow grease and used cooking oil (UCO) prices were higher into the Gulf market on Wednesday as well, with trading done at 46.5 cents per lb and 47 cents per lb respectively.

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