Participants called the animal proteins market flat for the first day of trade in 2024. Indications of extremely tight bloodmeal have been reported for Tuesday due to diminished holiday slaughter, though with the high pricing, there has been talk of reformulations on feed.

For the week ending January 6, 2024, cattle slaughter is forecast at 540,000 head, down 4.4 percent from 2023 and 5.9 percent lower on the week due to the holiday period. Over the next six weeks, cattle slaughter is expected to average 610,830 head per week, 3.3 percent lower than 2023 for the respective time.

Based on the Estimated Weekly Meat Production from the USDA, cattle slaughter for the week ending December 30 was at 508,000 head, down 5.0 percent from the respective week in 2022. Year-to-date cattle slaughter was at 32.24 million head, 4.2 percent lower than 2022 for the same time. Production levels, 2023 year-to-date, were at 26.55 million pounds, or 4.6 percent below 2022.

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