Renderer bleachable fancy tallow was offered a penny lower today and unsold as of press time. Heavy supplies continue to weigh on the market. In terms of monthly averages, packer BFT prices are down just over 7.25 cents compared to May. If current prices hold, or move lower, the BFT markets could see the largest decrease from the prior month since October of 2008. At current prices, feed and export demand should start to pick up and put a floor in the market in the near term.
Figure 1.
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