04.24.2024
Biodiesel output strong in Q2; producers start locking in Q3-Q4 sales
A second producer echoed this sentiment and said they have had to work a bit harder to secure feedstock to line it up with sales at the right time.
Sellers received more bids today, mostly for cow material at $1-$2 down yesterday’s trading levels. Many sellers are resistant to the lower bids, citing the $2-$5 drop on material over the past few weeks. Most of the bidding was from Chinese customers, most Korean customers were out today on holiday. Steer prices on Butt Branded Steers and Colorado Branded Steers dropped $0.50-$1 today.
Economic impact payments and strong home starts have contributed to all-time highs for furniture sales. The Federal Reserve Economic Data (FRED) reported quarter 1 (Q1) sales for 2021 at $11.1 billion. Q1 for this year was 23 percent higher than the 2016 to 2019 Q1 average and bullish sales continue. April’s sales figures at $11.9 billion are down 5 percent from the previous month and up 199 percent from sales in April of 2020. Since the lows of the pandemic, there has been robust recovery for the furniture industry. Furniture sales were the third largest of all industries in 2021 with…