Palm Oil Futures Fall After Holiday on Bearish Export Data
Vegetable oil prices were mixed on Friday as Malaysian prices played catch up to the U.S. market following a holiday on Thursday. However, fund spreading supported soybean oil prices despite early-session weakness in crude oil. Crude oil managed to rally and rose more than two percent from the late morning lows in afternoon trading, which contributed to late-session strength in soybean oil prices.
Soybean oil futures gained about 1/2 percent (December contract +15 basis points per pound). Buying at the 10-day moving average contributed to the bullish tone, but selling at the five-day exponential moving average limited the advance. It remains to be seen whether soybean oil prices can continue to rally, and the trend in Chinese prices will play a large part in determining the near-term direction of the market. The…
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...