Today’s Market
There have been a few price adjustments in the US hide market today. After yesterday slight bump, we’ve seemed to come back down to the early week lows. Reports in Korea speak of increased interest in automobile interior leather despite May US light vehicle sales reporting down 30 percent. However, this down is not nearly as low as April’s sales.
[HIDE-SALES]
US imports of leather footwear from China are down 36 percent in March of 2020 relative to March of 2019. It is reasonable to expect additional low volume for April when The Office of Textile and Apparel (OTEXA) trade data is released later this week. According to the OTEXA data, major players, such as Vietnam, Italy, Mexico and Thailand have maintained…
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...