Poultry tallow traded lower in the Australian market, down to a bottom A$1150. Beef tallow prices were unchanged, but there are indications of a push for lower prices on export values. The hot and cold demand cycle of the renewable market has started to shift towards cold, and this is applying down pressure on the market. The expectation for continued tight supplies via drastic reductions in slaughter levels and strong palm oil and soybean oil markets should soften the downturn. Prices in New Zealand were lower due to pushback on prices from the renewable sector. Slaughter rates are expected to seasonally increase over the next two months, which adds additional risk for lower prices. Like Australia, the New Zealand market should see some downside support from the soybean and palm oil markets.
Edible and Cat 3 tallow trading out in the European market was flat with last week’s values. UCO trading moved lower with COVID related demand concerns.
Bleachable fancy tallow…
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