04.25.2024
US heating oil, distillate fuel consumption lower than usual in Q1
In the first quarter of 2024, US prices for distillate fuel oil — which includes diesel fuels for vehicles and for home heating — was lower than the...
Based on participants in the market, the upcoming January report for USDA Cattle on Feed expectations are for cattle on feed to remain under year ago levels due to heightened drought conditions and year-over-year slaughter levels in 2021.
Hogs on feed are also expected to be lower in upcoming reports, regardless of diminished slaughter rates and most producers looking to move market ready hogs as soon as possible. Plant slowdowns due to heightened absenteeism have not diminished contacts concern for the following: sizeable decreases in the number of sows in feedlots, higher feed costs, increased disease levels among hogs and sows, and heightened absenteeism.
According to the USDA Feed Outlook for December, total Grain Consuming Animal Units (GCAUs) are projected to be 100.5 million units for 2021/22. This number is down from the revised estimate for 2020/21 of 101.3 million units. The decline…