The US animal fats and oils markets closed mostly lower on Wednesday November 6, diverging from the upward trends seen in the nearby soybean oil (SBO) complex.
More than 10 trucks of packer-grade bleachable fancy tallow (BFT) traded lower throughout the day at 42.5 cents per lb on a Chicago basis. Choice white grease (CWG) in the Chicago market also declined, trading down by 2 cents per lb to 40 cents per lb.
Sources continued to report soft demand for fats in the Midwest market, noting that feed buying and buyers’ willingness to secure product are the primary factors preventing prices from dropping to otherwise expected levels.
“But even they’ll start pushing for lower prices once they realize they’re the only game in town,” one source said.
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