A lack of availability of spot material continues contribute to a quiet, overall market. Reports of demand destruction continue due to cheaper corn prices and low energy feed rations. With that stated, hog slaughter was up today at an estimated 312,000 head, 46,000 head above last week’s levels.
The EIA reported an increase in ethanol production for last week, the first increase since the week ending Feb 28. Gasoline demand increased as well at 279.9 million gallons, up from 246 the week prior. Distillers corn oil production is estimated at 5.7 million pounds per day, last week. While 5.7 million pounds is 48 percent lower than year ago levels, an increase in production could start to inject enough liquidity in…
12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...