Today’s Market
Again, little was reported today. This temporary reduction in slaughter is giving some supply side relief. However, the lower hide prices aren’t attracting demand because of the lack of leather orders. The limited reports are steady with the current, printed ranges.
[HIDE-SALES]
Mandated shelter in place orders have had a significant impact on the economy and one of the first sectors to slow down, or switch production efforts, has been the auto industry. On top of the minimal buying interest, the manufacturers have had to reassign their production focus. As COVID-19’s spread accelerated through the world, some of the factories, such as GM and Ford, had shut down auto production to focus on producing ventilators.
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...