04.24.2024
Biodiesel output strong in Q2; producers start locking in Q3-Q4 sales
A second producer echoed this sentiment and said they have had to work a bit harder to secure feedstock to line it up with sales at the right time.
Market Activity & Analysis
The Jacobsen Hide Index on Friday closed at $15.03 compared to $15.28 Friday the week prior. Big packer steer quotes included HNS from $25.50, BBS from $18 to $21.50, BS at $13, and CBS at $13 and HTS at $18 FOB plant.
The Week’s Slaughter Forecast
The Jacobsen slaughter forecast for this week is 550,000 head, and if realized, will be 99,900 head less the same week last year when it was 649,900.
Cattle slaughter finished last week 499,000 head, down 10 percent from a year ago and up 17 percent relative to the week prior. Slaughter is forecast to rebound in June after the lower numbers in April. Over the next six weeks, slaughter is forecast at an average of 605,833 head, up an average of 26 percent from the prior six weeks and down 7 percent compared to last…