Mid-week trading was limited while business is being negotiated. Automotive leather orders continue to be cancelled due to cancellations by automakers. Chinese power curtailments and shipping backups are contributing to major backlog of parts/materials for many industries. Hide prices remain under pressure.
High freight rates and shipping delays impeded Quarter 3 (Q3) clothing sales from the recovery following the pandemic, but Q4 faces uncertainty as the holiday shopping period may continue to be hit with shipping issues. Federal Reserve Economic Data (FRED) for August reported advanced clothing sales at $25.9 billion-a 5 percent decrease from the month prior. The Commerce Department noted that consumer spending had increased 0.8 percent in August, which opposed analysts’ projections that spending would fall short in August as COVID-19 cases surged and the global shipping crisis worsened. Pent-up…
04.18.2024
Total RFS blending falls in March, domestic biodiesel blending increases
The Environmental Protection Agency (EPA) reported 1.66 billion gallons of renewable fuel blended within the nation’s transportation fuel pool during March. Blending was six percent below February and...
04.18.2024
EU UCO premium to US continues to grow
The US animal fats and oils market was mostly quiet on Thursday April 18, with a handful of price changes reported. Choice white grease (CWG) into the Missouri River...
04.18.2024
Ruminant meat and bonemeal price pressure in most regions
Price pressure was reported on several regions for meat and bone meal, ruminant and porcine items. Market sources said buyer pushback and light demand, with exception to the pet...