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...
Trading was quiet in the animal protein market today, but downward price pressure should be expected after soybean meal fell below $400 today for the May contract. Hog slaughter finished last week at an estimated 2.58 million head, down 3.8 percent from a year prior levels. The harvest is forecast to trend lower over the next six weeks, averaging 2.54 million head versus 2.59 million head over the prior six weeks. Slaughter is forecast well over 2020 levels, which were dramatically impacted by COVID related packing house closures. Slaughter is forecat 5 percent over the same time…