The lion’s share of the 2019 biomass crop is still in storage, and though we do not know how much that is, we know it is well north of 10 million lbs, and likely many more times that. We’ve discussed the relevance of this in previous commentary, noting that connection to markets is paramount. There is a lot of material that is not and will not likely be connected to markets, making it inconsequential in terms of supply and overall hemp pricing trends. As an aggregate, these pounds certainly don’t help hemp pricing though. Buyers looking for deals on 2019 material are able to be selective, but variability in form-factor, location, and lot size will preclude many millions of pounds from transacting.
Quality issues are the other aspect of any supply-side discussion. In conversation with Hemp Bulletin reader Bert James today, he notes significant declines in biomass quality,…
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...