Chinese tanners were active in the hide market booking material and negotiating prices with packers. The items traded at sideways price levels. Some tanners are looking for volume of certain material, but at steady to lower price levels. The items that most tanners are interested in are the lower-end branded steers, cows and bulls. This is the case in the US and Australia.
Packers had fewer offers this week than last as they reported they were in decent positions. Buyers are skeptical about this because leather orders remain slow.
Interest was widespread this week from a variety of industries, but automotive was more active than the week before. Projections for hide buys look to be flat from June to July. These projections are subject to change depending on Original Equipment Manufacturer (OEM) needs. Over the past several…
07.25.2024
DGD financial outlook improves despite lower Q2 margins
US renewable diesel major Diamond Green Diesel (DGD), a 50:50 joint venture between Valero Energy and Darling Ingredients, reported on Thursday July 25 a continued weakening in operating income...
07.25.2024
US Gulf tallow prices boosted by limited spot supply, strong Chicago market
Tallow with max 20% free fatty acids (FFA) traded at 51 cents per lb delivered US Gulf on Thursday July 25, following trades earlier this week at that price.
07.25.2024
Animal protein values flat; June poultry slaughter below traditional trends
US animal proteins values were indicated as rangebound on Thursday July 25, with light trade volume reported from multiple market sources.
US broiler slaughter
Fastmarkets' research team...