Trading was quiet coming off of the long, holiday weekend. Soybean oil futures were up today but the sinking heating oil market will do little to entice biofuels producers to pay higher prices. The general tone of the market heading into the first, full week of April is corrective to the downside. Bleachable fancy tallow remains offered and unsold at steady prices and early indications are that most buyers are well covered for their nearby positions. Cattle slaughter finished last week at 609,000 head, down 6.2 percent from the week prior. Slaughter numbers are forecast to pick back up this week to an estimated 660,000 head. Over the next six weeks slaughter is forecast at an average of 644,000 head, up 1.5 percent from the prior six week…
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...