Hide prices remain steady on very low volumes of trading. The pandemic in China is rumored to be worsening which is slowing the transport of material. Because of the spread of cases and the shipping issues, both occurring just weeks before Chinese Lunar New Year, some tanneries are considering closing down earlier than usual. The furniture tanneries continue to show strong demand for hides, particularly Branded Steer (BRS), Dairy Cow (DC) and Native Cow (NC).
The Federal Reserve Economic Data (FRED) synthetic fibers and crude petroleum producer price indices (PPI) was released for November 2020. The data show an increase of less than 1 percent for both indices from the prior month. Excluding the yet-to-be updated December data for the synthetic fibers PPI, the Q4 average of 2020 was down 4 percent from the Q4 average of 2019. The crude petroleum PPI Q4 average of 2020 was down 31 percent relative to the Q4 average of 2019. The steady decline in the crude petroleum PPI…
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...