Feeds containing triglycerides are processed to produce an olefinic diesel fuel product. The olefinic diesel can optionally be oligomerized to form a lubricant base oil product. The olefinic diesel is generated by deoxygenating the triglyceride-containing feed using processing conditions that enhance preservation of olefins that are present in the triglycerides. The triglyceride-containing feed is processed in the presence of a catalyst containing a Group VI metal or a Group VIII metal and optionally a physical promoter metal.