05.17.2024
Uncertainty with 45z tax credit may affect Q1 2025 biofuel contracts
The expiring BTC provides a one dollar per gallon blenders credit up front with an additional 30 to 40 cents of credit to producers on the backend. Crimson...
Market Activity & Analysis
The Jacobsen Hide Index on Friday closed at $15.28 compared to $14.96 Friday the week prior. Big packer steer quotes included HNS from $26.50, BBS from $18 to $21.50, BS at $13, and CBS at $13 and HTS at $18 FOB plant.
The Week’s Slaughter Forecast
The Jacobsen slaughter forecast for this week is 500,000 head, and if realized, will be 162,500 head less the same week last year when it was 662,500.
Cattle slaughter finished last week 452,000 head, down 32 percent from a year ago and up 6 percent relative to the week prior. Slaughter is forecast to rebound in June after the lower numbers in April. Over the next six weeks, slaughter is forecast at an average of 584,200 head, up an average of 17 percent from the prior six weeks and down 10 percent compared to last year.