The US animal fats and oils markets concluded the week stable to lower on Friday November 8, with a few exceptions noted in the Gulf market. The week was marked by market uncertainty, mixed outlooks for year end and early 2025 and post-election strength in vegetable oil markets.
Sources in Europe and the US continued to report lackluster demand for animal fats heading into the end of the year, despite surging vegetable and palm oil prices.
The disconnect between palm oil, soybean oil and tallow is befuddling many in the industry, with sellers asking, “hey, why not us?”
Since September 2, soybean oil FOB Brazil has increased by 25%, crude palm oil FOB Malaysia by 25% and crude palm oil FOB Indonesia by 23%.
The nearby CME soybean oil futures market is up by 14%, trailing the Brazilian market but rallying on strong export demand tied to an overall strong demand picture developing in the global seed/palm oil markets.
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12.02.2024
Biofuel capacity, feedstock demand continued to decline in September: EIA
US biomass-based diesel (BBD) capacity fell to a five-month low of 6.575 billion gallons during September, according to data released on Monday December 2, by the US Energy Information...
12.02.2024
Renderer BFT price falls on weak December demand
Renderer grade bleachable fancy tallow (BFT) traded down to 43 cents per lb in Chicago on Monday December 2, down 2 cents per lb from the last traded level.
12.02.2024
Animal protein prices steady on light trade following Thanksgiving holiday
US animal protein prices were steady on Monday December 2, with market sources reporting limited trade volumes.
Fastmarkets assessed ruminant, bloodmeal, Iowa/Missouri/Nebraska at $950-1,000 per short ton, steady...