Packers have indicated steady or near-steady levels for offers going out tonight. Chinese customers are preparing for the Lunar New Year to begin slowing operations at the end of this week. The increasing cases of COVID-19 abroad may lead to government-imposed shutdowns or restrictions to limit movement in infected regions. Buyers have a lot of inventories and sellerS are facing a lot of delays and cancellations of contracts. Several buyers who are contending with past due delivery times are renegotiating price with sellers.
Worldwide COVID-19 outbreaks are creating greater negative price risk for the hide market as well as other material makers. A US big packer reported to the Jacobsen that the growing number of cases in the US have resulted in absenteeism at plants which have affected cattle…
04.19.2024
Reduced March RIN production not leading to higher RIN Prices
Total March biofuel RIN production was 1.9 billion RINs, which was 6% below February and 15% below December’s RIN output of 2.25 billion. December had the largest monthly production...
04.19.2024
CWG, YG higher on week, UCO, DCO down again
The market was quiet heading into the weekend. Used cooking oil (UCO) traded in large volume into the Gulf at 40 cents per lb delivered in the truck market.
04.19.2024
Price pressure on ruminant and porcine items for the week
Sloppy markets were reported for porcine and ruminant items at the close of week ending Friday April 19.
Wide ranges were witnessed on porcine bloodmeal (BM), with a...