Many buyers continue to push for shipments before the end of the year to avoid any delays or issues from the US winter holidays and Chinese Lunar New Year that are just around the corner. However, the majority of shipments are scheduled for February. Buyers in need of product, in particular upholstery material, are willing to pay a premium for December and January shipment. But, finding stock and containers to complete the sale is raising concern for all players in the market.
[HIDE-SALES]
USDA Cured Hide and Wet Blue Export Sales Recap
For week ending November 26, export sales for 2020 marketing year increased 15 percent to 491,171 from 427,150 and shipments increased 3 percent to 420,169 from 406,978. Sales for marketing year 2020 totaled 24,532,471—mostly all hides. The average…
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...