Buyers still have an appetite to buy US hides as bids have already been placed for Branded Steer and Dairy Cow selections. Despite the strong interest, prices are unchanged. The industry continues to tackle shipping problems and discuss settling leather prices. With the recent hide market volatility, leather price discussions amongst tanners and fashion houses have been postponed until some hide price stabilization.
February’s Federal Reserve Economic Data (FRED) Producer Price Index (PPI) for crude petroleum rose 9 percent from January to 154.2 points and the synthetic fibers PPI increased 1 percent from January to 129.2 points. Both indices returned to pre-COVID levels of January 2020, when the PPI for crude oil was 158.7 points and synthetic fibers were 130 points. Oil consumption still falls short of last year’s levels, but demand is strong. Oil demand had increased 18 percent in the last week of February in comparison to the week prior. As vaccines become more…
01.09.2025
Additional 45z guidance expected on January 10
Information addressing the Bipartisan Infrastructure Law (BIL) and the Inflation Reduction Act (IRA) is expected to be released on Friday January 10, according to several sources speaking with...
01.09.2025
Prices for US animal fats and oils unchanged; market tightness persists
The US animal fats and oils markets were unchanged on Thursday January 9, as trade slowed following an active start to the week.
Participants continued to report stable pricing in...
01.09.2025
Averted ILA port strike eases animal protein market tension; November dog, cat food exports rise
US animal protein prices were steady on Thursday January 9. With the International Longshoremen’s Association (ILA) port strike avoided, sources expect unease to diminish to a degree. However, trade...