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

Markets in Australia and New Zealand were unmoved again this week. Production remains strong in the Australian tallow market due to robust slaughter levels. During the final week of June, the MLA estimated Australian cattle slaughter was 123,325 head, down just 0.5 percent from the previous week but up 25 percent on the year.

In the EU, trading was firm to higher this week following an ongoing bounce in soybean oil futures in the U.S. Prices in the EU had recently been under pressure, as imported volume of both biodiesel and used cooking oil weighed on the biofuels market, which, in turn, pressed on feedstock demand.

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