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…
11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...