Hide demand remains firm for mid-week. There is still strong appetite to buy certain selections and there is still willingness to pay more than previous traded levels. Colorado Branded Steers were active today with packer sales increasing $2. This week Chinese customers are the major buyers for US product.
Agricultural commodities have entered a bullish market with a number of commodities having huge upswings in prices and demand. The US hide market has rebounded since the lows during the pandemic and firm pricing is expected to continue in the near future. The Jacobsen Hide Index (JHI), now at $27.59, has recovered by 96 percent since the June 2020 low. Historically, there is an inverse relationship between commodities and the US Dollar Index (DXY) so when the JHI is low, the DXY is high. US commodities typically drop when the dollar is high against other leading currencies. During the bear market in 2020 when the JHI was trading at its June lows of $14.11, the DXY…
11.13.2024
Neste, Air Canada sign SAF agreement for Vancouver
Finnish transport fuel producer Neste and Air Canada have signed an agreement for the delivery of approximately 20 million gallons of sustainable aviation fuel (SAF) for use by the...
11.13.2024
CWG prices up slightly; DCO movements mixed
The US animal fats and oils markets remained mostly stable to slightly higher on Wednesday November 13, with a modest increase in trading, though many participants continued to exercise...
11.13.2024
2024/25 grain consuming animal unit headcounts increase by 0.39%
Meat and bonemeal, porcine and ruminant, Missouri River were lower on Wednesday November 13. Market sources told Fastmarkets that there are varied poultry and layer feed demand levels, with...