Cattle slaughter finished last week at 656,000 head, down 2 percent from a year ago and nearly flat with the week prior. This week, slaughter is projected out at 650,000 head, down 3 percent from last week. Over the next six weeks, slaughter is forecast at an average of 640,000 head, down an average of 0.2 percent from last year and up 9 percent compared to the prior six week average. The continued strong supply is going to keep negative price pressure on the market, but low prices should start to cure low prices by way of increased inclusion rates in July and an increase in export demand.
Figure 1.
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...