Cattle slaughter remains well under 2019 levels in Australia. The MLA reported numbers at just under 121,400 head for last week. Winter slowdowns are expected to keep the slaughter numbers lower in the near term. Improved demand from the renewable sector has helped to push prices higher over the last week for both Australian and the New Zealand market. New Zealand production is expected to fall in the near term, but slaughter delays tied to COVID shutdowns have extended the season longer than in years past.
Strong production continues to keep a negative price tone in the domestic US fat market. Prices have been mostly unchanged this week with the exception of a few poultry fat markets falling $20 – 30/MT. Chicago packer grade bleachable fancy tallow (BFT) max 4% ffa traded as low as $463/MT Chicago yesterday, but an additional 1,225 MT were traded steady with previous levels at $485/MT Chicago. Chemical demand was lower in late May and into June and that mixed with the…
04.15.2024
Soybean oil stocks climb as soybean crush reaches record high
The National Oilseed Processors Association (NOPA) reported the March soybean crush at an all-time high of 196.406 million bushels. This was largest crush on record, outpacing by 0.55%,...
04.15.2024
Soybean oil market adds negative pressure to DCO market
Distiller’s corn oil (DCO) traded in a range of 45.5 - 46 cents lb delivered US Gulf today on what was otherwise a quiet trading day.
The lower...
04.15.2024
Hog slaughter forecast lower into May
Market sources reported no trades outside the previously set ranges for animal proteins in the US for Monday April 15.
For the week ending April 20, 2024, hog...