*Please Note – Ryan Standard will be out of the office until July 10, 2023. Please contact Amanda Luhavalja at [email protected] in his absence.*

The market was mostly quiet on Monday, with many participants again adopting a wait-and-see attitude following recent volatility in soybean oil and palm oil futures. Distiller’s corn oil (DCO) traded at 62.50 cents delivered Manly, Iowa for July shipment. Gulf DCO was reportedly bid at 64 cents FOB. The Chicago tallow market was quiet and steady, with indications into the Gulf still seen at 57 cents delivered. Supply is reportedly tight and could get tighter in the coming weeks.

U.S. cattle slaughter finished last week at an estimated 649,000 head, up 2.37 percent on the week but down 2.35 percent on the year. In the next several weeks, cattle slaughter will be impacted by the July 4th holiday cutting into the production…