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.
Today’s Market
There’s been improvement on the bottom of the price guide material today. Dairy Cows have seen an increase for processed hides, moving up to $14 on the Northern and $12.50 on the Southwestern. Small Packer are now trading at $7, Branded Bulls are up from $8 to $12, and Kip Skins are steady at $12. Processor Branded Steers have also moved up $2, to $18. Other than Branded Steers, there have been steer pricing discussions, but minimal sales at this point in the week. Reportedly, prices are tracking at steady ranges, falling just a few dollars shy of pre-pandemic levels on the majority of the selections. For example, mid-weight Heavy Native Steers are $5.75 less than where they were one year ago.
[HIDE-SALES]
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