Late yesterday three cars of packer BFT traded at 67 cents Chicago. Today, trading was down further with ten cars traded at the bottom end of the range. Sources speculated that the nearby availability may be liquidated at this point, but it’s reasonable to expect prices to consolidate at the bottom end of the range after today’s trading with buyers unwilling to pay the top end of the range moving forward.
The Midwestern truck market is likely to continue to slide on increased grease availability in the short term. Similar to the vignettes of late-night travelers passing the no-vacancy signs, sellers needing to move material are on that same road. Feed buyers have formulated fat out of rations, or dramatically reduced inclusion rates due to high prices to corn, biodiesel tanks are full or buyers are passing on animal fats due to cloud point concerns and rail cars for transloading are…
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...