Five railcars of packer-grade bleachable fancy tallow (BFT) traded higher at 53.5 cents per lb on a Chicago basis on Wednesday February 19.
The increase was widely expected by sources, given recent strength across the tallow markets. Over the past week, premium grades — including technical and edible tallow — along with Chicago renderer BFT and Gulf tallow, have all traded higher, reinforcing the upward momentum.
Sources attribute the recent price increases to steady buying interest for March and growing demand for tallow, particularly imported material, as imported used cooking oil (UCO) is not eligible under the 45Z guidance. Some also noted that weather and logistical challenges could create short-term tightness in the US Midwest.
Apart from the Chicago trade, the markets remained relatively quiet with the only other notable activity in Gulf UCO market, with a trade higher at 54 cents per lb for March delivery.
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