The proximity of the extended Easter holiday weekend kept some participants off the market at mid-week, leaving values generally steady.
Poultry by-product pet grade was reported lower in the Southeast region, at $775-850 per short ton. Market sources have said diminished demand from pet food processors in more recent sessions is expected to weigh on spot values. Contracts based off CME soybean meal pricing have continued to be reported as under spot trades for the month of March.
Broiler Slaughter Forecast
For the week ending March 30, 2024, broiler slaughter is anticipated to be 162.728 million head, up half a percent from 2023 for the respective week. Over the next six weeks, broiler slaughter is projected to average 162.868 million head per week, down 1.48% from 2023. (Fig. 1)
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