05.17.2024
Uncertainty with 45z tax credit may affect Q1 2025 biofuel contracts
The expiring BTC provides a one dollar per gallon blenders credit up front with an additional 30 to 40 cents of credit to producers on the backend. Crimson...
Steer and cow hide demand pushed prices higher today. Many sellers have stepped away from the market, content with their positions at this point in the week. According to the USDA export sales report, China was the largest buyer by volume, representing 74 percent of the global cured hide sales. Chinese customers represented 37 percent of the global wet blue sales while Vietnam made up 26 percent. With hide prices increasing quickly over the past two weeks there is concern from some that leather prices will incease in conjuction, which could lead to reduced leather usage from the designers.
Today’s Trades
[HIDE-SALES]
U.S. Export Sales & Shipments for Week Ending March 11
USDA Cured Hide and Wet Blue Export Sales Recap
For week ending March 11, export sales for 2021 marketing year decreased 2 percent to 652,011 from 662,255 and shipments decreased 6 percent to 463,697…