The US hide market had a busy bidding day today. Many bids are reportedly lower than the last traded levels, but sellers continue to push for steady to higher prices. Packers are well sold, with a few December shipments booked but the main focus is on Q1 2021. The lack of containers still poses a problem for many sellers, in particular with the steamships.
US privately owned housing starts for October were up 1.4 million units, or 2 percent from September and 11 percent above the prior three-year average. Since the end of 2019, housing starts in the US have tracked at all-time highs with the exception of the first and second quarters of 2020 when the impact of COVID-19 cases had a freezing effect across the economic spectrum. Low interest rates and a trend of deurbanization are expected to continue to contribute to growth in housing starts relative to prior years.
Tracking…
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...