Trading was quiet to start the week with no activity reported.
Cattle slaughter finished last week at 654,000 head, relatively sideways with 2019 and prior week levels. This week, slaughter is projected out at 650,000 head, up 13.8 percent from last year, which was shortened with the Labor Day holiday. Over the next six weeks, slaughter is forecast at an average of 629,000 head, down an average of 2.3 percent from the prior six weeks and down 1 percent relative to year ago levels.
Figure 1.
The EIA released biodiesel production numbers for June today, showing an increase of 13 million gallons relative to May and an increase of 8 million gallons relative to June of 2019. Feedstock usage in June was heavily reliant on soybean oil, but less so than in May. Biodiesel producers used an estimated 747 million pounds…
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...