Tight Hog Slaughter Forecast Portends Tighter CWG Supplies

Tight Hog Slaughter Forecast Portends Tighter CWG Supplies

Technical tallow traded at 60 cents Chicago today even with Friday’s high. Blechable fancy tallow (BFT) trading was quiet along with the rest of the fat market. Sellers are mulling higher offers basis the red hot corn and soybean oil markets. May corn traded up to $6.80 today and at 400 percent of the price of $6.80, fat has a value of 48.5 cents per pound. 

Hog slaughter finished last week at an estimated 2.47 million head, up 10.3 percent from a year ago levels and 0.8 percent from the week prior. Slaughter is forecast to trend lower over the next six weeks, projected at 2.47 million head this week and to 2.45 million head…

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