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 sellers communicated little trading activity since last week, except for regular weight butt branded steers, which traded $1 lower or below prior traded levels. Sellers indicated active trading last week along with a few reports of big volume packer sales, at lower than current market levels. These were withheld from reporting.
Shoe tanners have begun inquiring about material but at lower than current market levels.
A packer stated that an auto tanner was active at the start of the week, paying steady to last month’s price levels. The trades were not reported.
Cured and Wet Blue Export Shipments by Selected Countries — Through October 19