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.
Chinese tanneries are the leading buyers of US material with Korea and Mexico also showing strong demand. Shoe and auto tanners have purchased packer hides with their position extending into the last half of August. Furniture upholstery demand remains strong, but buyers are pushing back on price increases. Steers and cows are firm, apart fom Branded Cows (BC). An increase in production out of the South American market, which was expected, is driving BC hide prices lower.
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