The market was quiet on Thursday June 6, with steady prices indicated from most of the trade. The rebound in soybean oil prices on Thursday quieted some of the bearish talk in the market, and July futures were up 1.22 cents per lb on the day.

Spot supply for most fats is tight for June, and neither buyers nor sellers are in a rush to get July trades finalized.

The USDA released April export estimates on Thursday for animal fats showing a continued year-on-year decline.

Total exports as tracked by Fastmarkets are estimated at 43,302 tonnes, down 18% from March and down 45% from April of 2023.

Inedible tallow exports were estimated at 13,202 tonnes, down 9% from March but up 4% from April 2023. All exports were bound for North American destinations, with 11,653 tonnes destined for Canada and 1,549 tonnes reported for Mexico.

…