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 $14.25 compared to $14.21 Friday the week prior. Big packer steer quotes included Heavy Native Steers (HNS) from $26, Butt Branded Steers (BBS) from $19.50 to $20.50, Branded Steers (BS) at $13, and Colorado Branded Steers (CBS) at $11 and Heavy Texas Steers (HTS) at $15 FOB plant.
Week-Ending Slaughter
The week’s estimated cattle slaughter was 664,000. The previous week’s kill was 593,000 and the corresponding week last year it was 658,000. Year-to-date slaughter at 16.516 million is down 5.6% from 2019 levels.
The Week’s Slaughter Forecast
The Jacobsen slaughter forecast for this week is 660,000 head, and if realized, will be 4,600 head more…