Shifting economic conditions are raising the possibility of a US recession. The US Bureau of Labor Statistics (BLS) released the jobs report on Friday September 6, which showed that nonfarm payrolls grew less than expected, while overall unemployment edged higher. The news dragged ultra-low-sulfur diesel (ULSD) futures on the Chicago Mercantile Exchange to a fresh three-year low of $2.12 per gallon.
Nonfarm payrolls were reported at 142,000 in August, up from 89,000 jobs in July but below the Dow Jones consensus forecast of 161,000 jobs. The unemployment rate came in at an expected 4.2% for August, but the BLS’s most expansive measure of labor underutilization, the U6 rate, came in at 7.9%, up from 7.8% in July and at its highest since October 2021.
…
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...