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…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...