05.17.2024
Uncertainty with 45z tax credit may affect Q1 2025 biofuel contracts
The expiring BTC provides a one dollar per gallon blenders credit up front with an additional 30 to 40 cents of credit to producers on the backend. Crimson...
The international animal protein market was steady to lower for the week. Meat and bonemeal (MBM) exports out of Australia were communicated as softer with a new price range of AU$780-800/mt. Meat and bonemeal New Zealand, 45 and 50 pro, were lower as well, with NZ$750/mt and NZ$835/mt lows for the week, separately. Both Australia and NZ have reported diminished values on MBM on accounts of lower export interest, which has dropped interior levels.
The MLA reported cattle slaughter at 88,311 for last week, up from the week prior by 64.6 percent and 7.6 percent higher than 2023 levels. Slaughter in both New Zealand and Australia was slow through the end of December and into the middle of January on holiday downtime.
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