04.23.2024
Rising BOHO spread spurs RIN values higher
Despite the move higher, D4 RINs are down 2% in value from the previous week. RIN prices are receiving support from the rising bean oil/heating oil (BOHO) spread, which...
Market Activity & Analysis
The Jacobsen Hide Index on Friday closed at $14.81 compared to $15.03 Friday the week prior. Big packer steer quotes included HNS from $25, BBS from $18 to $20, 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 520,000 head, and if realized, will be 68,100 head less the same week last year when it was 588,100.
Cattle slaughter finished last week 555,000 head, down 14 percent from a year ago and up 11 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 600,000 head, up an average of 24 percent from the prior six weeks and down 6 percent compared to last year.
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