The December jobs report released today once again surprised analysts with an additional 216,000 jobs added to nonfarm payrolls. This is a continued indication of the economic resilience in the U.S., firming up hopes for a soft economic landing. The implications of a soft economic landing on Federal Reserve policy are yet to be seen.
With economic conditions having an outsized influence on organic animal protein demand, the robust jobs data should be welcomed. However, wages gained 4.1 percent year over year and this, along with the 2.7 million jobs added in 2023, could slow the pace of rate cuts that the Federal Reserve indicated would begin as early as March.
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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...