Biomass-Based Diesel Imports Continue to Trend Higher
Renewable diesel imports outpaced biodiesel imports during September, as they have done every month other than July.
There have been reports of more offers this week from a few major American sellers at higher prices (a minimum of US$1 higher per hide).
When considering the high cattle slaughter each week in USA, some people are wondering whether or not this firmer hide market can continue for next few weeks.
In general, it seems that quite a few people have agreed that the hide market would continue moving upwards for a while before going under pressure again. Now the question to some buyers is whether or not to pay higher prices just to keep buying or take a break. Some major buyers have become cautious to pay the higher prices, but it depends on their perspective of the future leather business.
The furniture upholstery leather business, especially for the export market, is booming. Some are wary about how long this may persist.
As the week moves forward, reports of an upward moving market continue. Buyers are said to have bought plenty and may be sitting out for a short while to see how slaughter ends for the week and what direction hide prices are heading. Upholstery still drives demand and footwear is reportedly improving slowly.
The market was quiet today with few changes reported. Despite the sellers taking a pause, market sentiment remains stronger with upholstery demand driving the market at present and demand form the footwear sector slowly improving.