Four cars of packer-grade bleachable fancy tallow (BFT) traded lower on Thursday October 24, settling at 43 cents per lb in the Chicago market.
This decline follows a downward trend observed in the Chicago renderer BFT market on Wednesday, although prices remained stable on Thursday at 44 cents per lb.
Sources attribute the week’s price dip to a lack of demand, leading some participants to adopt a bearish outlook for the remainder of the year.
“Soybean upward movement may help, but it also might be a non-factor when all is said and done,” a source said.
The December soybean oil (SBO) futures contract settled at its highest level in over two weeks on Thursday, reaching 44.33 cents per lb, an increase of 94 basis points from Wednesday.
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