The US animal fats and oils markets were stable to higher on Thursday November 7, with market participants expressing mixed sentiments and uncertainty about the market outlook for the end of the year.
Many in the market are confused about the direction, with vegetable oil futures trading higher globally, yet animal fat trading remains sluggish.
The most actively traded December soybean oil futures contract closed at 48.32 cents per lb on Thursday, up by 1.98 cents per lb, or 4.14%, from a settle of 46.34 cents per lb the day before.
The soybean oil complex continued its upward trend amid expectations of potential trade barriers with China, including restrictions on biofuel feedstock imports, following President-elect Donald Trump’s victory, which has bolstered support for soybean oil prices.
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11.25.2024
Glycerin prices mostly stable even amid tightening kosher supplies
Glycerin prices were mostly stable on Monday November 25, with one source saying “market prices seem to be holding for now.”
Kosher glycerin supplies are “getting tighter,” according...
11.25.2024
Packer BFT, CWG trade higher; hog slaughter down week on week
Prices for packer-grade bleachable fancy tallow (BFT) moved higher on Monday November 25, in an otherwise quiet trade day ahead of the Thanksgiving holiday.
Five cars of packer BFT traded...
11.25.2024
Cattle slaughter six-week average projection down for holiday season
Trading was generally quiet in the US animal protein market on Monday November 25, though price ranges adjusted slightly in typical pre-holiday fashion.
Price pressure on ruminant meat...