Trading was mostly quiet today with no changes reported. There was trading for packer BFT done outside of the Chicago rail corridor at a value that would equate to 59.75 Chicago. Market participants were more bullish on their outlook today with soybean oil prices up again and strong demand seen from multiple sectors.

Hog slaughter finished last week at an estimated 2.408 million head, up 1.7 percent from the week prior and up 0.2 percent from year prior levels. Over the next six weeks The Jacobsen is forecasting hog slaughter to average 2.325 million head per week, down 3.7 percent from the…