Hide demand was consistent over the weekend with buyers willing to pay steady price levels to current market. Automotive tanners drove heavy native and butt branded steer prices up $0.50 over the course of the week. Buyers in other leather good sectors were more resistant to higher prices due to limited demand.
Consumers continue to face high interest rates which adds difficulty to borrow for new purchases. The US hide market participants have indicated that they expect the recent surge of business may only be temporary if interest rate hikes continue.
Cattle Slaughter Forecast
Cattle slaughter is forecast by The Jacobsen at 625,00 head this week, up 1.96% from last week and down 3.12% from last year. Cattle slaughter finished last week at an estimated 613,000 head, down 0.97% from the week prior and down 5.42% from last year. Over the next six weeks, slaughter is forecasted at an average of 625,830 head per week,…
09.17.2024
US glycerin prices rangebound amid market uncertainty
The US glycerin market remained rangebound in the week to Tuesday September 17, with prices for 80% crude and kosher crude glycerin steady to slightly higher. Biodiesel producers are...
09.17.2024
US animal fats and oils mostly stable; CWG edges higher on strong demand
The US animal fats and oils markets were stable to slightly higher on Tuesday September 17, with minimal trading as some sources cited “well-covered” positions for the month.
09.17.2024
US porcine, ruminant bloodmeal prices fall; USDA slightly raises forecast for GCAU count in 2024/25 [corrected]
Prices were rangebound for most items on the US animal proteins market on Tuesday September 17. The exceptions were bloodmeal in the Missouri River, Texas Panhandle and Indiana markets,...