Three cars of edible tallow traded down a penny today on a Chicago basis. Trading outside of the edible market was steady. Numbers were again higher at the CME today on corn, soybean oil, and heating oil, supporting a strong, fat market. The fundamentals suggest choice white grease is at risk for lower prices in the near term, despite the higher CME prices. The December corn futures contract settled at $3.7525 today at 400 percent of the price of corn, fat has a value in feed rations of $0.2680 per pound. The prior three-year average relative price of CWG to corn for September is 384.5 percent, suggesting a value of $0.2575 FOB Missouri River. Slaughter, which correlates very well with price, is expected to increase over the next six weeks, which adds further, fundamental…
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...