Three cars of packer-grade bleachable fancy tallow (BFT) traded higher on Friday January 17, at 47 cents per lb, Chicago basis.
Outside of this trade, the US animal fats and oils markets ended the week on a quieter note, as the industry continued to digest the recent 45Z tax credit announcements and anticipated the inauguration of the new US president.
Overall, weekly prices for most fats and oils averaged higher on Friday, bolstered by recent gains in the soybean oil complex, a widening bean oil/heating oil (BOHO) spread and continued strength in both the renewable identification number (RIN) and diesel markets.
Tallow prices in both the Chicago and Gulf markets increased over the week, driven by reports of steady consumption from the US fuel and feed sectors, coupled with ongoing supply tightness.
Average Chicago packer BFT prices rose by 2.02% week on week, while Gulf tallow prices had a more pronounced increase of 4.33%.
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