Trading was quiet today to close out the week. Supply remains a concern with labor limitations adding risk for lower production this week and in the near term. The USDA estimated cattle slaughter for the week at 621,000, down 31,000 head from the same week a year ago. Hog slaughter is estimated at 2.407 million head, down 237,000 head from last year.
Animal fat, used cooking oil and distiller’s corn oil prices were all higher this week. The biggest week-on-week move was the CWG market, which is up an average of 13.8 percent compared to last week’s average price. The Mo. River CWG price is up 20.3 percent from four weeks ago. Packer BFT is up 19.5 percent from four weeks ago and, on average, up 7.9 percent from last week. Soybean oil prices were relatively flat this week, up just shy of 0.003 cents per pound for the March contract. Prices peaked midweek after the WASDE report, but the prospect of rain…
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...