11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
Organic chicken slaughter continues to remain steady and has rebounded since hitting a low in April. The organic prices of organic chicken have remained steady despite rising demand for organic broilers at the retail level. Organic chicken weight slaughter that is generated by the Jacobsen reflects an FDA inspection number that is rising above trend. Despite the huge dip in production of organic chickens in April and early May, year to date in 2020 organic chicken weight slaughter is now down less than 1% year over year compared to the same period in 2019. The 4-week moving average has now crossed back above the long term trend which was downward sloping due to the decline in the organic chicken slaughter in April of 2020.
A lot of the catchup in organic chicken weight slaughter has been in the average weight of the birds slaughtered. While the number of…