05.02.2024
UCO, heating oil spread widens
Yellow grease traded as low as 34 cents per lb delivered Carolinas on Thursday May 2, with additional volume heard at 36 cents per lb. Despite the decrease, offers...
Trading was again quiet in the protein market today with no changes reported. The pre-break strength is still present in the feathermeal market with prices well valued versus soybean meal. The Mid South feathermeal market finished August at a relative price of 89 percent to nearby soybean meal, the lowest August relative price on record. Historically, the feathermeal market has traded lower in September relative to August in eight out of the last ten years. The average price move is – $18.33. The fundamentals suggest a…