Hide interest remains strong entering this week. The US continues high production while Australian, South American and European cattle slaughter is down. Drop credit for packers is reportedly strong, influencing further firmness in hide prices. Hide activity and prices are expected to continue their upward momentum.
The Jacobsen slaughter forecast for this week is 647,000 head, and if realized, will be 6,300 head more than the same week last year when it was 640,700.
Cattle slaughter finished last week 665,000 head, up 2 percent from a year ago. Over the next six weeks, slaughter is forecasted at an average of 645,300 head, up an average of 2 percent from the prior six weeks and up 7 percent compared to last year.
Figure 1.
…
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...