04.23.2024
Rising BOHO spread spurs RIN values higher
Despite the move higher, D4 RINs are down 2% in value from the previous week. RIN prices are receiving support from the rising bean oil/heating oil (BOHO) spread, which...
**Please note – The Jacobsen will not publish a Hide bulletin on Friday, December 31st. Trading will close at 1 pm CT on Thursday, December 30th with publication shortly after.**
The was a very quiet tone to the hide market today with minimal trades reported. Heavy Native Steers were reported $1 lower than last traded levels with sellers indicating further expected downward pressure on other steer hide selections. Another seller reported Butt Branded Steers down $1-$2 depending on the weight class. Buyers and sellers have both reported significant inventories and no improvement in the transportation of previous sales. The week is expected to remain quiet partially due to extended holiday breaks for many market players.
For the week ending December 31st, 2021, cattle slaughter is forecasted at 525,000 head, a 1.9 percent increase from 2020, a 9.8 percent growth from the…