Used cooking oil (UCO), distillers’ corn oil (DCO) and yellow grease all traded lower on Friday September 6 due to pressure from the sinking heating oil and soybean oil markets, sources told Fastmarkets.
The exception was the California market, with reports of higher UCO trading.
The October soybean oil contract finished the day at 40.21 cents per lb, the lowest nearby month settlement since August 16.
Heating oil and crude oil futures were also lower, which continues to add to a negative tone in the fats and oils complex.
For the week to Friday, prices were mostly steady to lower. The nearby soybean oil futures market was down by 2.8% from the prior week’s average.
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