After a relatively slow start to the week, trading in the US animal fats and oils markets gained momentum on Wednesday January 15, driven by developments in the macroeconomic environment and renewed strength in the energy complex.
Prices across all markets in the Gulf Coast region moved higher on Wednesday. Trucks and railcars of used cooking oil (UCO) traded at 47-48.5 cents per lb for both January and February delivery, while yellow grease was up by 2.5 cents per lb at 45 cents per lb.
Tallow in the Gulf region also strengthened, rising by 7.22% on the day to trade at 48-48.5 cents per lb delivered.
Outside of the Gulf, choice white grease (CWG), which has faced significant downward price pressure in recent months, had a notable rebound.
CWG in the Chicago market gained 4 cents per lb on the day, with trades reported at 42 cents per lb, while the FOB Missouri River market narrowed upward to 34-37 cents per lb.
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