The market closed the week on a very quiet tone with no changes or trading reported. Many are reconfiguring their first quarter expectations due to a continued lack of nearby demand at higher prices, sinking RIN values and slower than expected run rates at some biofuel facilities.
For the week the market was largely unchanged. Packer BFT, CWG FOB Mo. River, YG FOB Mo. River and DCO FOB Mo. River were flat with the prior week’s average. Trading was done in those markets this week, but at steady prices.
Soybean oil prices fell 0.4 percent from last week’s average, but concerning to some of the sellers in the market, was the fall from Monday’s surge up to 48.16 cts/lb on the March contract to a close of 46.53 cts/lb yesterday, up slightly today to 46.93 cts/lb.
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05.13.2024
US glycerin prices mostly steady amid increasing biodiesel production
Glycerin prices in the US were steady to slightly lower on Monday May 13. US biodiesel production has been increasing, boosting the supply of glycerin — a co-product of...
05.13.2024
Weekly cattle slaughter forecast to remain below 2023 levels into June
US cattle slaughter
Fastmarkets research team forecast cattle slaughter at 630,000 head in the week to Saturday May 18, down by 1.61% compared with the same period in 2023.
05.13.2024
Six-week hog slaughter forecast to be flat or up from 2023
US hog slaughter
Fastmarkets research team forecast hog slaughter at 2.425 million head in the week to Saturday May 18, up by 0.75% from the same period in 2023.