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.
The US animal fats markets experienced a quiet start to the week on Monday November 4, with no changes observed throughout the day.
In other news, Fastmarkets’ research team forecasts cattle slaughter at 620,000 head for the week ending November 9, up by just 0.81% week on week, but down by 0.47% year on year.
Cattle slaughter finished the prior week at an estimated 615,000 head, down by 1.28% from the prior week and by nearly 3.35% from the corresponding week in 2023.
The year-to-date total through Saturday November 2 is 26.4 million head, down by 3.95% from the previous year.
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