The Federal Reserve raised short-term borrowing rates again to a range of 5.25-5.50 percent, the highest in 22 years. The market had already priced in this rate hike and instead was looking for clues as to what the Fed might do in its next meeting. The Fed is still concerned with job growth which is essential to stabilizing demand through consumer purchases of organic poultry, dairy, and eggs.
Organic grain shipments are on their way to the United States. According to the Morehead City, North Carolina and Wilmington, Delaware shipping schedules; two ships are likely carrying organic grain into these ports. The “Strategic Energy” is in the Mediterranean and on its way to Morehead City with an origin of Giresun, Turkey.
Click here to learn more and sign up for a free 7-day trial!
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...