Strength in Livestock Markets Lifts Feed and Grain Prices
Feed and grain markets were mostly higher on Tuesday as a rally in livestock futures contributed to gains in most contracts. Most livestock futures gained about one percent, but nearby lean hog contracts rose more than 1 1/2 percent, and deferred live cattle contracts gained less than 1/2 percent. The strength in livestock prices suggests producers can pay more for feed and may have an economic incentive to keep animals on feed longer before selling them to processors.
In addition to the strength in livestock prices, gains in soybean oil and soybean meal helped lift soybean futures to increases of about 1/2 percent (May contract +5 3/4 cents per bushel). Although most contracts finished about 1/2 percent below the highs of the day, the benchmark contract rose to its highest level since March 10. Early strength in…
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.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...