The BFT remained quiet today even with the announcement that a countervailing tariff may be placed on Argentinian imports. This would become on all imported goods effective 90 days prior publication in the Federal Register. This means that the price of Argentinian Biofuels would increase and make the US biofuel market demand more feedstocks for biofuels. Soybean oil rallied today by as much at .75 to nearly a cent only to settle well below the high of the day. So far it has not affected the animal fat prices around the US, but many are wondering not only if but when it will. So the market today is like a deer caught in headlights and is stuck waiting to see what happens next.
No changes in any of the animal fat markets today, but a lot of lip service given to the tariff on Argentine imports.
Broiler-fryer slaughter under federal inspection for 23-Aug-17 is estimated to be 33,300,000 head up 3.00 percent from a week ago and up 1.9 percent from a year ago. (Last week 32,329,000, last year 32,669,000).
Broiler-Type Eggs Set in the United States Up 5 Percent
Hatcheries in the United States weekly program set 226 million eggs in incubators during the week ending August 19, 2017, up 5 percent from a year ago.
Broiler-Type Chicks Placed in the United States Up 4 Percent
Broiler growers in the United States weekly program placed 184 million chicks for meat production during the week ending August 19, 2017, up 4 percent from a year ago.