Organic feed commodity prices remain steady. Fastmarkets projects that current buying practices – which feature thin inventories – will continue until there is some kind of catalyst. Merchandisers disclosed to Fastmarkets that the increased carry costs caused, in part, by high interest rates, can reach 20 cents per bushel monthly.
End users are happy to have others store their feed given the costs of storage. The US Federal Reserve met this week, leaving rates unchanged to realize their 2% inflation target, but indicated optimism about a September rate cut.
Another catalyst would be any perception of supply constraints in the market. End users would like to avoid the supply chain challenges of…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...