Declining Cash Prices Weigh on World Vegetable Oil Markets
World vegetable oil moved lower on Friday as falling cash prices outweighed gains on the Dalian exchange. Weakness in crude oil prices during the overnight session and again during U.S. trading hours also contributed to the bearish tone.
Soybean oil futures fell by 1/2 percent or less (December contract -11 basis points per pound). Weakness in the soybean complex and light fund spreading also weighed on prices. However, buying below the five-day exponential and 10-day moving averages limited the decline. Traders will look forward to the monthly supply and demand data from the National Oilseed Processors Association (NOPA), scheduled for release on Monday at 11 a.m. (CDT), for the next fundamental influence on prices. If NOPA reports larger-than-expected soybean oil stocks, the benchmark December contract could…
11.25.2024
Glycerin prices mostly stable even amid tightening kosher supplies
Glycerin prices were mostly stable on Monday November 25, with one source saying “market prices seem to be holding for now.”
Kosher glycerin supplies are “getting tighter,” according...
11.25.2024
Packer BFT, CWG trade higher; hog slaughter down week on week
Prices for packer-grade bleachable fancy tallow (BFT) moved higher on Monday November 25, in an otherwise quiet trade day ahead of the Thanksgiving holiday.
Five cars of packer BFT traded...
11.25.2024
Cattle slaughter six-week average projection down for holiday season
Trading was generally quiet in the US animal protein market on Monday November 25, though price ranges adjusted slightly in typical pre-holiday fashion.
Price pressure on ruminant meat...