Limited movement was noted to start the week as most buyers and sellers test the market amid weakened soybean meal futures pricing.
Cattle slaughter rebounded last week with a 23.6 percent growth week-over-week with an estimated slaughter of 665,000 head. The previously week’s slaughter of 538,000 head was due to the long Memorial Day weekend combined with JBS closures. Cattle slaughter this week is anticipated to show a modest 2.3 percent decrease from last week with a 660,000 head slaughter. For the next 6 weeks, slaughter is expected to remain within the range of 650 -660 million head, with exception to the July 4
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04.15.2024
Soybean oil stocks climb as soybean crush reaches record high
The National Oilseed Processors Association (NOPA) reported the March soybean crush at an all-time high of 196.406 million bushels. This was largest crush on record, outpacing by 0.55%,...
04.15.2024
Soybean oil market adds negative pressure to DCO market
Distiller’s corn oil (DCO) traded in a range of 45.5 - 46 cents lb delivered US Gulf today on what was otherwise a quiet trading day.
The lower...
04.15.2024
Hog slaughter forecast lower into May
Market sources reported no trades outside the previously set ranges for animal proteins in the US for Monday April 15.
For the week ending April 20, 2024, hog...