The Jacobsen Hide Index (JHI) finished the week at $29.36 – down 3 percent from last Friday’s close. Butt branded steers and Colorado branded steers dropped $1 today on the light and regular weight selections. Hide buyers remain hesitant due to market uncertainty during accelerating global challenges. Shipping costs increasingly become more expensive, and delays continue to persist. Several sellers reported negotiations with buyers have disappeared, as buyers do not seem urgent to buy material.
The week’s estimated cattle slaughter was 644,000. The previous week’s harvest was 644,000 and the corresponding week last year it was 629,000. Year-to-date slaughter at 7,104,000 is consistent with 2021 levels.
07.26.2024
US Court of Appeals sends SRE decision back to EPA; soyoil prices tumble on potentially lower biofuel demand
On Friday July 26, the US Court of Appeals vacated at least some of the blanket small refinery exemption (SRE) denials made by the Environmental Protection Agency (EPA) in...
07.26.2024
Animal fats and oils trade freezes following soybean oil market drop on SRE report
Trading in the animal fats and oils market was quiet on Friday July 26; the California yellow grease market the only one to rise, with prices up to 31-32...
07.26.2024
Porcine bloodmeal, Missouri River, moves higher week on week; June commercial cattle, hog slaughter
US animal protein prices were highly mixed in the week to Friday July 26, with limited trade on both Thursday July 25 and on Friday. Porcine bloodmeal was the...