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
Today’s Market
The US hide market has been slower this week while Asia is away on holiday. However, prices continue to move higher. Packer Heavy Native Steer and Butt Branded Steer prices moved up $2 today. Branded Steers and Northern Heavy Native Dairy Cows are up $1. Colorado Branded Steers are also heating up, quoting up $3 today, but sources have reported that some have managed $8 higher.
Today’s Trades
[HIDE-SALES]
Domestic Auto Production & Hides Forecast
Domestic auto production in July continued to recover and was just below pre-pandemic levels at 4.5 percent below the prior three-year average of 183,500 units. Historically, July has been a seasonal low for production as manufacturers want to lower inventory for the typical sales decline ahead of the new model rollout. However, auto sales from July through…