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 $14.17 compared to $14.05 Friday the week prior. Big packer steer quotes included HNS from $23.50, BBS from $19.50 to $21, BS at $13, and CBS at $13 and HTS at $15 FOB plant.
Week-Ending Slaughter
The week’s estimated cattle slaughter was 656,000. The previous week’s kill was 658,000 and the corresponding week last year was 668,000. Year-to-date slaughter at 14.618 million is down 6.3% from 2019 levels.
The Week’s Slaughter Forecast
The Jacobsen slaughter forecast for this week is 650,000 head, and if realized, will be 20,200 head less the same week last year when it was 670,200.
Cattle slaughter finished…