Participants called the animal proteins market quiet for the day. Communications of pressure on bloodmeal and porcine meat and bonemeal continued, though most values were rangebound for the day. Most market participants are expecting a drop in the near term, causing a sit-and-wait sentiment, waiting out the CBOT soybean meal values. This is due to the soybean meal nearby and futures spread being so vast and lower out front. 

For the week ending August 12th, 2023, broiler slaughter is forecast at 170.288 million head, down less than half a percent from 2022 but up 0.6 percent from the previous week (Fig 1). Over the next six weeks, broiler slaughter is projected to average 167.562 million head per week, a drop of 1.0 percent from 2022 but a 2.4-percent rise compared to 2021.

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