The week began with some carryover business from the week for premium quality packer Dairy Cows and Branded Cows, but most of the market was quiet. Packers are expected to push trading of the fed steer market due to increasing inventories. The COVID-19 cases overseas continues to disrupt logistics and delay/cancel leather orders.
Cattle slaughter bounced back last week after the short, holiday week, hitting a four-week high at 657,000 head. The fire at the Grand Island facility is reported as limited to the rendering part of the plant. Slaughter is forecast out at 660,000 head this week and is projected at an average of 653,300 head over the next six weeks. The 653,300 head is a 2.9 percent increase from the prior six week average and 0.6 percent over 2020 levels.
Figure 1.
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04.19.2024
Reduced March RIN production not leading to higher RIN Prices
Total March biofuel RIN production was 1.9 billion RINs, which was 6% below February and 15% below December’s RIN output of 2.25 billion. December had the largest monthly production...
04.19.2024
CWG, YG higher on week, UCO, DCO down again
The market was quiet heading into the weekend. Used cooking oil (UCO) traded in large volume into the Gulf at 40 cents per lb delivered in the truck market.
04.19.2024
Price pressure on ruminant and porcine items for the week
Sloppy markets were reported for porcine and ruminant items at the close of week ending Friday April 19.
Wide ranges were witnessed on porcine bloodmeal (BM), with a...