For Tuesday, animal proteins were unsettled, with most of the global grains and overall trade markets uneasy. Several contacts were also out for the week, limiting volume. Extremely limited to non-existent spot trades were reported on poultry-by pet grade and chicken meal markets while feathermeal was under pressure with the continued price drops on soybean meal. Feathermeal values dropped to a low of $550/st for the Mid-South, Delmarva, Alabama/Georgia, and Carolinas for the day.
Feeder cattle cash and CME continue to move in the opposite direction of the agriculture market, due to indications of very short market ready hogs and lower graded cattle. This led packers to “chase” supply and increase trade volume levels to keep slaughter strong for the near term.
For the week ending June 3rd, 2023, hog slaughter is forecasted at 2.050 million head, a 0.3 percent increase from 2022 and a 14.6 percent drop from the prior week due to the long Memorial Day…
04.22.2024
Animal fats and oils commentary: CWG prices fall on pressure from DCO
Steady slaughter levels, lower prices into the US Gulf for all feedstocks and lower prices for distillers’ corn oil (DCO) in the Midwestern markets have all weighed on the...
04.22.2024
Cattle slaughter more in line with 2023 as May nears
US cattle slaughter
Fastmarkets research forecasts cattle slaughter at 625,000 head in the week to Saturday April 27, less than half a percent lower than the same period in...
04.22.2024
Central Illinois soybean crush margins hit 5-week high
DDG prices remained steady in all regions on Monday April 22. Market sources said demand remains flat, and reported steady values that align with current price ranges.