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.
Several hide sellers told Fastmarkets that they pushed for higher-than-last-traded prices on Thursday October 31, but buyers either said that they would turn down the business if sellers weren’t willing to accept steady levels, or the buyers had not given a decision yet.
Many sellers reported well-sold positions on cow hides and dairy breeds, so they were firm on seeking out price increases for these selections. As for steer hides, sellers were slightly more flexible on their prices while the market outlook for the shoe sector wasn’t clear.
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