Beef production continues to fall with cattle slaughter declining to 465,000 head last week. Numbers are off 7 percent from the week prior and 28 percent compared to last year. There are reports of COVID cases at 17 of the top 23 packing plants. The slower run times at plants are expected to cut production over the next six weeks by 8 percent compared to last year’s levels. Slaughter is forecast at an average of 599,200 head per week over the next six weeks and at 500,000 head for this week. Despite the reductions,…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...