11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
Trading was mostly quiet in the US animal protein market on Monday October 7, with minimal price changes reported. Poultry items were indicated as steady to lower, though price pressure is anticipated due to the backlog resulting from the East Coast and Gulf Coast port closures, sources told Fastmarkets.
Fastmarkets assessed bloodmeal, poultry, fob South at $700-800 per short ton on Monday, down from $800-850 per ton on Friday October 4. Prices for the Eastern region were reported below this range.
Fastmarkets assessed chicken meal, Mid-South, at $650-750 per short ton on Monday, down from $725-775 per ton on Friday.
Fastmarkets assessed poultry by-product meal, feed grade, 57 pro, fob Delmarva at $350-400 per short ton on Monday, widening downward from $380-400 per ton on Friday.
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