Hide demand from auto tanners in Mexico continues to be strong, with higher Heavy Native Steer prices up from the previous trading levels. The ease of booking trucks rather than shipping containers has helped to facilitate increased volume into Mexico. Overseas, buyers are quieting down ahead of the holiday and demand from the Far East is expected to slow in the upcoming weeks.
Federal Reserve Economic Data (FRED) Producer Price Indices (PPI) for raw cotton in December jumped 9 percent from the prior month, now at 114.5 points. The five-year low was in April, when the cotton PPI fell to 78.5 points, which since has made a 50 percent recovery. Hides PPI, another natural fiber, saw a 91 percent recovery in December from its low in July, now reaching 63.5 points. During the recession, both raw cotton and hide prices fell to the lowest they had in ten years-global price of raw cotton reached 63.53 cents per pound in April while hides fell to 24.48 cents per pound in May….
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...