05.17.2024
Uncertainty with 45z tax credit may affect Q1 2025 biofuel contracts
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Market Activity & Analysis
The Jacobsen Hide Index on Friday closed at $16.14 compared to $15.71 Friday the week prior. Big packer steer quotes included Heavy Native Steers from $28, Butt Branded Steers from $25.50 to $26, Branded Steers at $16, and Colorado Branded Steers at $16 and Heavy Texas Steers at $18 FOB plant.
The Week’s Slaughter Forecast
The Jacobsen slaughter forecast for this week is 650,000 head, and if realized, will be 78,900 head more than the same week last year when it was 571,100.
Cattle slaughter finished last week 654,000 head, down 0.1 percent from a year ago. Over the next six weeks, slaughter is forecast at an average of 629,200 head, down an average of 2.3 percent from the prior six weeks and down 1 percent compared to last year.
Figure 1.