Last week’s hog slaughter finished at an estimated 1.99 million head, down 15.4 percent from last year’s levels and down 1.8 percent from the week prior. Slaughter this week is again forecast lower from the week prior at 1.95 million head. Slaughter is forecast to start to increase the first full week of May, but the next six weeks are still expected to be lower. Slaughter of the next six weeks is forecast at an average of 2.22 million head per week, down 4 percent compared to the same time period is 2019 and down 9.6 percent from the prior six weeks. With COVID cases continuing to shut down both meat packing plants as well as meat processing plants, the alarm bells are starting to ring on the meat supply chain. There are reports of COVID cases amongst plant employees at 44 percent or 11 of the top 28 packing facilities in the US and six…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...