04.24.2024
Biodiesel output strong in Q2; producers start locking in Q3-Q4 sales
A second producer echoed this sentiment and said they have had to work a bit harder to secure feedstock to line it up with sales at the right time.
Market Activity & Analysis
The Jacobsen Hide Index on Friday closed at $14.26 compared to $14.25 Friday the week prior. Big packer steer quotes included HNS from $24, BBS from $19.50 to $21, BS at $14, and CBS at $11 and HTS at $15 FOB plant.
The Week’s Slaughter Forecast
The Jacobsen slaughter forecast for this week is 650,000 head, and if realized, will be 1,600 head less than the same week last year when it was 651,600.
Cattle slaughter finished last week 650,000 head, down 0.8 percent from a year ago. Over the next six weeks, slaughter is forecast at an average of 662,500 head, up an average of 2.7 percent from the prior six weeks and up 2.1 percent compared to last year.
Figure 1.
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