Trading was quiet to start the week with no changes reported. For the most part, the market was steady, with sources travelling to Chicago for the Jacobsen Biofuels and Feedstock Conference and waiting to do business in person.

For the week ending May 13, cattle slaughter was forecast at 635,000 head, down 2.5 percent from 2022 but up 1.9 percent from the week prior. Over the next six weeks, cattle slaughter is projected to average 635,830 head per week, down 2.6 percent from 2022 and down 0.3 percent from 2021. Slaughter levels are forecasted to remain relative in a range of 635,000-640,000 head per a week, although slaughter levels during the upcoming Memorial Day weekend should drop  to levels similar to last year’s.

Compared to prior years, cattle weights have been at a deficit for most of 2023, most likely due to the late winter weather in the Northern Plains. This has slowed down performance on cattle and pushed back those scheduled…