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 minimal in the US hide market on Tuesday September 24, expect for cowhides, which traded flat to reported prices in the past four weeks. Colombia removed its restrictions on US beef imports, further squashing concerns about avian influenza’s potential negative effect on hide trading.
Federal officials reported that Colombia fully reversed its ban on US beef from states where avian influenza has been detected in dairy cows — Idaho, Kansas, Michigan, New Mexico, North Carolina, Ohio, South Dakota and Texas. Colombian officials imposed these restrictions in mid-April to avoid the spread of influenza.
The USDA reported Colombia’s imports of fresh, chilled or frozen cuts of US beef at 542 tonnes year to date on September 12, down by 34.5% from the year prior.
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