Steer prices moved down a $1 today on packer Heavy Native Steer and Branded Steer material. Steer prices are under stress while more bearish factors arise in the global hide market. Currently, the shipping issues, the upcoming Chinese Lunar New Year holiday break, higher post-holiday slaughter production bring high hide supply, the poor quality of winter season hides and the lack of footwear demand are all risks to rising hide prices.
Tables 1 and 2 below show the total outstanding cured hide and wet blue export sales by selected countries through January 21. Through Week 3, the total outstanding sales are 4.618 million from 4.673 million the prior week. With the same period average…
04.19.2024
Reduced March RIN production not leading to higher RIN Prices
Total March biofuel RIN production was 1.9 billion RINs, which was 6% below February and 15% below December’s RIN output of 2.25 billion. December had the largest monthly production...
04.19.2024
CWG, YG higher on week, UCO, DCO down again
The market was quiet heading into the weekend. Used cooking oil (UCO) traded in large volume into the Gulf at 40 cents per lb delivered in the truck market.
04.19.2024
Price pressure on ruminant and porcine items for the week
Sloppy markets were reported for porcine and ruminant items at the close of week ending Friday April 19.
Wide ranges were witnessed on porcine bloodmeal (BM), with a...