Prices for US animal fats and oils were largely stable on Tuesday August 20, with limited trade volumes reported, while soybean oil prices continued to inch upward.

On Tuesday, September soybean oil futures on the Chicago Mercantile Exchange closed at 40.71 cents per lb, up by 24 basis points for the day from 40.47 cents per lb on Monday August 19.

Meanwhile, the soybean oil/heating oil (BOHO) price spread recovered from the six-month low reached on Monday because heating oil futures fell further while soyoil prices crossed back above 40 cents per lb.

In the tallow markets, prices were unchanged across the board, with packer- and renderer-grade bleachable fancy tallow (BFT) assessed at 46.5 cents per lb and 48.75 cents per lb respectively on a Chicago basis.

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