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.
Please note – The Jacobsen will not publish an Animal Proteins bulletin on Monday in observance of the Presidents’ Day holiday. We will resume publication on Tuesday, February 16th.
Cattle slaughter finished the week at an estimated 611,000 head, down 6.4 percent from the week prior and hog slaughter is down an estimated 11,000 head from last week. Extreme cold is set to blanket much of the Midwest over the weekend and into Monday which could further disrupt production logistics. Soybean meal was off today, down $1.70 on the March contract and $1.40 on the May. At $427.20 and $427 respectively, both porcine and ruminant meat and bone meal are still well valued on a protein basis versus soybean meal. The combination of tighter production on the beef side and soybean meal above the $425 mark adds risk for price increases next week.
Figu…