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.
Trading was quiet in the US animal protein market on Monday September 23, with no changes reported.
Market sources continued to express concern over the looming port strike set by the International Longshoremen’s Association union for October 1, which includes major US ports from Maine to Texas.
These ports handle about half of the nation’s cargo from ships, market sources said, adding that the strike could devastate the rendered poultry meal markets, which are primarily based in the US Southeast.
“Even with decent pet food demand, [animal] feed would not be able to absorb the poultry [by-product] volume quick enough,” one industry source told Fastmarkets.
Hog slaughter
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