Three railcars of packer-grade bleachable fancy tallow (BFT) traded higher at 45 cents per lb, Chicago basis on Tuesday January 7.
Apart from this trade and continued activity in choice white grease (CWG), which traded in a wide range of 30.5-37 cents per lb, the US animal fats and oils markets experienced a quieter day on Tuesday, following a busy start to the week.
Sentiment, however, has notably improved, particularly in the Gulf Coast region, where both tallow and used cooking oil (UCO) experienced higher trades on Monday.
In California, the UCO market was also heard to be gaining strength, with indications ranging from 47.5-48 cents per lb, delivered, on Tuesday.
“Market does feel surprisingly tight, considering we are all still waiting for some type of direction,” a source said. “I think these values will remain supported until we see what the new administration decides to do.”
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