The US animal fats and oils markets were stable to higher on Thursday November 7, with market participants expressing mixed sentiments and uncertainty about the market outlook for the end of the year.
Many in the market are confused about the direction, with vegetable oil futures trading higher globally, yet animal fat trading remains sluggish.
The most actively traded December soybean oil futures contract closed at 48.32 cents per lb on Thursday, up by 1.98 cents per lb, or 4.14%, from a settle of 46.34 cents per lb the day before.
The soybean oil complex continued its upward trend amid expectations of potential trade barriers with China, including restrictions on biofuel feedstock imports, following President-elect Donald Trump’s victory, which has bolstered support for soybean oil prices.
…
11.11.2024
Falling biodiesel margins lead to expectations for higher RINs, lower feedstock cost
Biodiesel margins continued to fall during the week ending Friday November 8, with rising feedstock cost pushing the soybean oil/heating oil (BOHO) spread to its highest level in more...
11.11.2024
DCO starts the week higher; hog slaughter increases slightly
Distillers’ corn oil (DCO) traded higher out of the FOB Midwest markets on Monday November 11 in what was otherwise a quiet market to start the week.
A...
11.11.2024
US cattle slaughter continues to fall behind 2023 levels
Trading was quiet in the US animal protein market on Monday November 11, with no price changes reported.
Cattle slaughter
Fastmarkets’ research team forecasts cattle slaughter at 625,000...