In November, OPEC and NON-OPEC producers agreed to a substantial cut to reduce global inventories, and bring stocks into balance. While there are reports that the organization is 92% compliance, imports from January have yet to show up on U.S. shores. Meanwhile, U.S. fracking producers, who have higher costs have stepped in and are attempting to fill the void which OPEC is on the sidelines while prices remain above $50. OPEC’s…
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.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...