Renderer bleachable fancy tallow (BFT-R) traded higher today. BFT-R closed the month at the highest level since 2011. While the price is the highest in ten years, the relative price to soybean oil is 96 percent, just over the 94 percent from 2020 and 93 percent from 2019. Soybean oil and palm have led the charge higher and strong demand from the renewable and oleochemical sectors have supported the upswing. Palm oil moved higher again today and values remain well above Chicago BFT, arrival times for palm oil purchased today wouldn’t likely be before March. The soybean oil market is volatile and a drop in prices could pressure March values lower, but any February needs that are outstanding are going to have to be filled at steady to higher prices. The rate of increase is likely to slow, it is reasonable to expect higher prices in the BFT…
05.06.2024
Strong biodiesel production seen weighing on crude glycerin prices
The whispers of declining biodiesel production are meeting with resistance. Some observers have been sounding the alarm regarding declining production for over a year now, but if true, biodiesel...
05.06.2024
Average weekly hog slaughter to decrease into mid-June: Fastmarkets’ research team
Distillers’ corn oil (DCO) prices fell to 42-43.5 cents per lb delivered US Gulf on Monday May 6 for May-June shipments. There was additional trading reported on the same...
05.06.2024
Year-to-date commercial cattle production falls 2.30% y-o-y
US animal proteins prices were steady on Monday May 6. Limited trade was reported, with several market participants only testing prices, Fastmarkets heard.
US hog slaughter
Fastmarkets research...