Trading over the weekend was limited but sellers had to focus on organizing cancellations and claims. One seller reported they received a cancellation after a shipment was already in route so they had to resell at lower prices levels to avoid rerouting and a more serious loss.
The appetite to buy is minimal but packers will release offer lists today and tomorrow which will give better indication on levels of interest.
A few sellers reported that they are in the position to sell cowhides this week so refreshed prices are expected.
Cattle Slaughter Forecast
Cattle slaughter is forecast by The Jacobsen at 650,000 head this week, up 1.34 percent from last week and up 1.25 percent from last year. Cattle slaughter finished last week at an estimated 642,000 head, down 0.62 percent from the week prior and down 5.13 percent from last year. Over the next six weeks, slaughter is forecast at an average of…
07.26.2024
US Court of Appeals sends SRE decision back to EPA; soyoil prices tumble on potentially lower biofuel demand
On Friday July 26, the US Court of Appeals vacated at least some of the blanket small refinery exemption (SRE) denials made by the Environmental Protection Agency (EPA) in...
07.26.2024
Animal fats and oils trade freezes following soybean oil market drop on SRE report
Trading in the animal fats and oils market was quiet on Friday July 26; the California yellow grease market the only one to rise, with prices up to 31-32...
07.26.2024
Porcine bloodmeal, Missouri River, moves higher week on week; June commercial cattle, hog slaughter
US animal protein prices were highly mixed in the week to Friday July 26, with limited trade on both Thursday July 25 and on Friday. Porcine bloodmeal was the...