The US hide market had limited price changes today. At this time, the jumbo weight category is popular among sellers as hides are becoming heavier. Packers continued to be well sold into December. Jumbo Heavy Native Steers (HNS-J) saw a $0.50 decrease while jumbo Butt Branded Steers (BBS-J) remain unchanged.
The Federal Reserve Economic Data (FRED) released their October 2020 figures for the crude petroleum and synthetic fibers Producer Price Indices (PPI) posting an increase of 14 percent for crude petroleum and a decrease of less than 1 percent for synthetic fibers from the prior month. Since January 2015, the crude petroleum index has fallen 11 percent whereas synthetic fibers have gained 1 percent. However, these commodities have seen dramatic fluctuations over the five years due to factors such as the consistent oil demand but oversupply, the COVID-19 pandemic and the…
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...