Used cooking oil prices continue to move higher in the California market with higher numbers reported today. Trading outside of the California UCO market was quiet. Sellers are on the sidelines, watching the soybean oil prices continue to trade higher. Corn prices were higher today as well with the March contract settling at $5.65/bu. At 400 percent of the price of corn, fat has a value of 40 3/8 cents in feed rations.

Cattle slaughter finished last week at 655,000 head, down 1.6 percent from the week prior and up slightly from the same week last year. Slaughter is forecast to trend lower through March and into April.

Over the next six weeks the average weekly head count is 645,000, up 2 percent from the prior six week average…