Please note – The Jacobsen will not publish an Animal Fats bulletin on Monday, January 15th in observance of the Martin Luther King, Jr Day holiday.
Trading was quiet today with many dealing with logistics issues stemming from the winter storm that has dumped rain and snow across a wide swath of the country.
Extreme cold is forecast to hit much of the plains and Midwest over the weekend which will likely cause further supply chain disruptions as well as impact livestock.
The USDA released its January World Supply and Demand Estimates report today projecting record production of corn on a stronger estimated yield and soybean futures fell on higher estimates for US soybean production, up to 113.34 million mt for the 2023/24 crop.
Soybean and heating oil (ULSD) futures were marginally lower on the day.
For the week, the market was broadly lower on fats, oils and grease.
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