05.17.2024
Uncertainty with 45z tax credit may affect Q1 2025 biofuel contracts
The expiring BTC provides a one dollar per gallon blenders credit up front with an additional 30 to 40 cents of credit to producers on the backend. Crimson...
Lard was offered out and unsold today at 40 cts/lb Chicago. Outside of the lard market, the trade was very quiet.
Hog slaughter finished last week at an estimated 2.456 million head, down 3.7 percent from the prior week and down 2.1 percent from the same week in 2023. Hog slaughter had been trending well above 2023 levels through February and the Jacobsen is forecasting that to hold true for March and April, but on a seasonal downtrend.
The Jacobsen is forecasting hog slaughter at 2.5 million head this week, up slightly from last week and up from 2023 levels. Over the next six weeks. The Jacobsen projects hog slaughter at an average of 2.463 million head, down 4.4 percent from the prior six week average and up 0.5 percent from 2023.
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