04.24.2024
Biodiesel output strong in Q2; producers start locking in Q3-Q4 sales
A second producer echoed this sentiment and said they have had to work a bit harder to secure feedstock to line it up with sales at the right time.
Market Activity & Analysis
Outstanding Export Sales
Tables 1 and 2 below show the total outstanding cured hide and wet blue export sales by selected countries through May 14. Through Week 20, the total outstanding sales are 4.410 million from at 4.512 million the prior week. With the same period average weekly slaughter at 577,889 head, the cumulative outstanding sales represent 7.63 weeks of production from 7.77 the previous week.
Table 1 & 2.
Today’s Market
HNS and HBH have lost some traction today with reports down a few dollars from the previous high. With shoe and auto sales falling, hide prices are at risk for further downward pressure.
Today’s Trades
[HIDE-SALES]
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