Hide prices remain unchanged today after the holiday break. Buyers are still showing interest in the automotive and furniture leather businesses, while footwear is slowly increasing. The week is expected to be very quiet with the New Year holiday at the end of the week.
The Jacobsen slaughter forecast for this week is 500,000 head, and if realized, will be 49,800 head less than the same week last year when it was 549,800.
Cattle slaughter finished last week 419,000 head, down 12 percent from a year ago. Over the next six weeks, slaughter is forecasted at an average of 605,000 head, up an average of 11.3 percent from the prior six weeks and down 2.9 percent compared to last year.
Figure 1.
…
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...