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.
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09.13.2024
Haffner Energy to spin off SAF division as independent company
French-based technology company Haffner Energy will spin off its sustainable aviation fuel (SAF) division into an independent entity called SAF Zero, the company announced on Friday September 13.
09.13.2024
Animal fats and oils markets end week stable to lower as SBO, HO continues decline
Prices for used cooking oil (UCO) were slightly lower on Friday September 13, as the heating oil (HO) and soybean oil (SBO) markets continued to slump, closing out the...
09.13.2024
Lackluster trade volume keeps most animal proteins flat
A quiet tone was noted by most market sources in the US animal proteins market for the week to Friday September 13. The only price adjustments were on bloodmeal,...