The US animal fats and oils markets started the week quiet on Monday August 26, with limited trading reported throughout the day.
Sources indicate that the fat markets are maintaining a “softer tone,” with concerns over product quality continuing to weigh on prices.
In related markets, the September soybean oil futures contract continued its recovery on Monday, closing up 23 basis points from the settlement on Friday August 23, at 41.70 cents per pound.
In other news, Fastmarkets’ research team forecasts cattle slaughter at 615,000 head for the week ending August 31, up by 1.2% week on week and down by 2.5% year on year.
Cattle slaughter finished last week at an estimated 608,000 head, down by nearly 3% from the same week in 2023 but up by 1% from the week prior.
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