The protein markets were quiet today, coming off of the holiday break. Most market participants were back in the office, but there was not much talk on market direction. Sellers seem to be pushing for higher prices following the soybean meal market’s surge over the last two weeks.
Hog slaughter is forecasted this week at 2.6 million head, down 3.5 percent from a year prior levels and up 20 percent compared with last week. Slaughter is forecast at an average of 2.53 million head per week over the…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...