Steer hide trading was active today with demand from Mexico and China. Trading remained steady with last reported prices except for butt branded steers up $1. One packer who was actively trading reported decent volume of material was sold.
Other sellers reported slow demand from most buyers due to a bearish economy. Hide prices are historically low, but sellers are concerned the market still has room to decline if it continues to lose leather demand. As of now, buyers are discouraged from pushing the market much lower because their previously purchased hides for the spot market will lose value if prices fall further.
Cured and Wet Blue Export Shipments by Selected Countries — Through May 25
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04.22.2024
Animal fats and oils commentary: CWG prices fall on pressure from DCO
Steady slaughter levels, lower prices into the US Gulf for all feedstocks and lower prices for distillers’ corn oil (DCO) in the Midwestern markets have all weighed on the...
04.22.2024
Cattle slaughter more in line with 2023 as May nears
US cattle slaughter
Fastmarkets research forecasts cattle slaughter at 625,000 head in the week to Saturday April 27, less than half a percent lower than the same period in...
04.22.2024
Central Illinois soybean crush margins hit 5-week high
DDG prices remained steady in all regions on Monday April 22. Market sources said demand remains flat, and reported steady values that align with current price ranges.