Lower soybean meal prices driving bearish market sentiment
Trading was quiet in the animal protein market on Friday August 16, with no changes reported.
The US...
Chicago packer bleachable fancy tallow (BFT) prices in the US declined by 2.5% in the week ended Friday August 16, compared with the previous week’s average, driven by continued weakness in the soybean oil market and negative pressure in the overall fats and oils complex.
Market sources continued through the week to report tight spot supplies of BFT and steady demand from the biodiesel and renewable diesel sectors. This helped to keep tallow prices from tumbling lower, despite the front-month soybean oil contract late this...