09.20.2024
BOHO spread reaches two-month high
The BOHO spread rose sharply on Friday September 20 to its highest since late July, as October soybean oil futures on the Chicago Mercantile Exchange traded higher and ultra-low-sulfur...
Pricing levels for the day were rangebound with Wednesday’s values due to continued communication of sluggish markets.
For the week ending September 16th, broiler slaughter is anticipated to be 170.348 million head, down 1.7 percent from 2022 but up 12.2 percent from the previous week (Fig 1). Over the next six weeks, broiler slaughter is projected to average 171.410 million head per week, a drop of 1.9 percent from 2022 but a rise of 1.9 percent compared to 2021.
Based on the Weekly Livestock, Poultry, and Grain market highlights from the USDA, year-to-date broiler production as of September 5th, was at 28.090 billion head, a 0.6 percent growth over 2022 for the comparable time. Higher weights on broilers in 2023 have led to the spread on slaughter versus production, with year-on-year slaughter up 0.5 percent. Year-to-date turkey production was at 3.413 billion head, up 4.8 percent from 2022 for the similar time.
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