The animal fats and oils markets started the week quiet on Monday July 29, as sources noted a lull in trading after news of a DC circuit court’s decision to overturn previous EPA denials of at least some small refinery exemptions (SREs).
This decision could potentially reduce overall demand for US biodiesel and exert downward pressure on renewable identification number (RIN) prices, which are the currency of compliance under the Renewable Fuel Standard (RFS) program.
Consequently, lower RIN prices could affect the feedstock prices that biofuel producers are willing to pay, with 2024 D4 RIN prices dropping by 5 cents per RIN on Friday July 26 in response to the news.
“It seems like everyone is standing on the sidelines today after the announcement,” one West Coast source said.
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10.28.2024
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US CWG prices dip slightly amid increasing hog slaughter rates
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US cattle slaughter forecast up w-o-w, down 2% y-o-y
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