Trading was very quiet to start the week with the sole exception being a big jump in the Gulf used cooking oil market. Supplies are right, both due to the usual logisitical challenges that come with the winter season, but also due to slower restaurant business tied to the spread of COVID-19 cases. 

For the week ending February 5^th, 2022, hog slaughter is forecast at 2.550 million head, a 4.6 percent drop from 2021, a 4.6 percent decline from 2020, and a modest increase over the prior week. According to the USDA Actual Slaughter Under Federal Inspection for January 15^th, average live weights are currently at 294 pounds, one pound below the respective period for 2021 and one pound higher since the start of December 2021. Over the next six weeks, hog slaughter is projected at an average of 2.504 million…