Methods are provided for refining natural oil feedstocks. The methods comprise reacting the feedstock with a low-molecular-weight olefin or mid-weight olefin in the presence of a metathesis catalyst under conditions sufficient to form a metathesized product comprising olefins and esters. In certain embodiments, the methods further comprise separating the olefins from the esters in the metathesized product. In certain embodiments, the methods further comprise transesterifying the esters in the presence of an alcohol to form a transesterified product.