Vegetable Oils & Animal Fat Prices Post Week on Week Drop
The market was fairly quiet today with traded volume slowing, but trading still done at lower levels. Gulf BFT traded down to 66 cts/lb delivered late yesterday. Ample nearby...
US hide trading was limited following the weekend due to minimal demand. The majority of the market continues to monitor the United Auto Workers (UAW) strike that began on September 15. Hide shipments have been delayed as tanners hesitate to make new purchases while near-term auto production is unknown.
The strike consists of roughly nine percent of the UAW’s members, according to NPR. This is a small percentage of the workforce, which gives the UAW the ability to increase the number of individuals to walk off if necessary. Hide tanners and steel commodities sources have a sense the strike may last for several days or more.
Cattle Slaughter Forecast
Cattle slaughter is forecast by The Jacobsen at 625,00 head this week, up 1.11 percent from last week but down 6.88 percent from last year. Cattle slaughter finished last week at an estimated 632,000 head, down 13.06 percent from the week prior and down 6.06 percent…