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.
Hide sales left over from the weekend were concluded today, although buyers and sellers found it difficult to settle on prices.
Branded steers were reported up $1 per piece for regular weight material, but steady with last Tuesday’s report. Northern Dairy Cows fell $1.50 per piece today as sellers reported cow hide demand has declined over the last few weeks. Offer lists will be released tonight, which will give further indication of buyer demand in the second half of the week.
Sellers also reported that there was a recent increase of heavy native steer slaughter in the past week. Additionally, butt branded steers are expected to drop in availability as the supply dwindles. The USDA will release slaughter figures for week 40 on October 12th.
Cured and Wet Blue Export Shipments by Selected Countries — Through September 21