Steer prices moved up today, with the upholstery tanners still in strong demand for material. The overall market is slower for a typical Tuesday, but more business is anticipated for the coming days.
The US Department of Commerce Office of Textiles and Apparel (OTEXA) report shows US imports for rubber and plastic footwear increased $2.3 billion from 2014 to 2019 while US imports for leather footwear declined $2.0 billion from 2014 to 2019. Both markets have seen decreases through 2020 tied to COVID-19 disruptions in the marketplace. The increase in rubber and plastic footwear imports is further evidence of a demand shift from the leather market into synthetic materials, including rubber and plastic footwear. The leather footwear market, in terms of imports, is much larger than the rubber and plastics. However, the trend away from leather footwear has been evident in the price direction of cattle hide prices over the last five years. Fashion trends…
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...