Trading was quiet to close out the week with no changes reported. Bleachable fancy tallow prices have settled into a trading range of 31 cents per pound after significant volatility seen in the May through early August window. The monthly average in June was down 26 percent relative to May, July was up 6 percent relative to June and August is up 26 percent relative to June. July pricing at 23.46 cents per pound for Chicago packer BFT was the lowest monthly average for July since 2006. COVID disruptions clearly played a large role in the price volatility with concerns over supply and big demand for personal care products driving the market to a high in May, before a surge in production, both yield and head of cattle, combined with a lag in chemical demand to drive prices to a 14 year low in July. The market appears to have corrected itself to be more in line with past fundamentals. History suggests that prices are due for a move lower in the near term. Since 2010, prices in the…