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.
US animal protein prices were flat on Friday November 1, with sources reporting limited trades.
But in the week to Friday, animal protein prices were mixed. Sources reported price pressure for several products, mostly due to lower soybean meal futures on the Chicago Board of Trade (CBOT).
The price for ruminant bloodmeal, Missouri River hit a low of $875 per short ton during the week, but the weekly average remained at $912.50 per ton, flat from the previous week.
Porcine bloodmeal, Missouri River reached a low of $850 per short ton this week, taking the weekly average to $909 per ton, down by $13.50 per ton week on week.
A high of $650 per short ton was reported for poultry by-product pet food grade (PBP PFG), Mid-South in the week, increasing the weekly average to $600 per ton, up by $5 per ton week on week.
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