Choice white grease traded lower today in the Chicago market. Packer bleachable fancy tallow (BFT-P) was offered lower and unsold as of press time. Prices in the BFT market, both for BFT-P and BFT-R, should be nearing a bottom. There is a lack of demand into/through the Chicago market at present, but export, fuel and feed demand interest should be piqued at these levels.
Hog slaughter finished last week at an estimated 2.587 million head, up 5.5 percent from a year ago levels. The slaughter is forecast to trend higher over the next six weeks, projected at 2.575 million head this week and to 2.55 million head on the week ending August 1st. The forecast for the next six weeks is an average of 2.45 million head, up 6 percent from last year and 8 percent from the prior six week average. The strong, July production adds risk for lower prices in the near term, but low spot prices relative to soybean oil and corn may up…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...