Tallow traded higher into the US Gulf market on Monday July 22, up to 51.0 cents per lb from the previous range of 49.5-50.0 cents per lb.
The trade follows reports from last week of higher priced trading, which could not be confirmed, and brings the US Gulf market to parity with the Chicago packer bleachable fancy tallow (BFT) market.
Outside of the Gulf tallow trade, the market was quiet on Monday.
Fastmarkets’ research team forecasts cattle slaughter at 600,000 head for the week to July 27, up by 2.7% week on week and down by 2.6% year on year.
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