US spot prices for vegetable oils closed the week on a quiet and depressed note on Friday December 20.
The market remains in shambles due to a lack of guidance regarding the 45Z Clean Fuel Production Tax Credit (CFPC) that will go into effect on January 1, 2025. The CFPC is set to replace the $1-per-gallon Blenders’ Tax Credit (BTC) after it expires on December 31.
Hopes for a delay in the BTC’s expiration were dimmed this week when a US Congressional spending bill that contained no language pertaining to a possible extension of the BTC failed to be passed twice.
If a spending package is not approved by 11:59pm Friday, some federal services will begin shutting down, which means ongoing tax credit uncertainty for the biofuel industry.
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12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...