The December jobs report released today once again surprised analysts with an additional 216,000 jobs added to nonfarm payrolls. This is a continued indication of the economic resilience in the U.S., firming up hopes for a soft economic landing. The implications of a soft economic landing on Federal Reserve policy are yet to be seen.
With economic conditions having an outsized influence on organic animal protein demand, the robust jobs data should be welcomed. However, wages gained 4.1 percent year over year and this, along with the 2.7 million jobs added in 2023, could slow the pace of rate cuts that the Federal Reserve indicated would begin as early as March.
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12.12.2024
California LCFS credit volumes rise, prices fall week on week
California Low Carbon Fuel Standard (LCFS) credit volumes were up sharply while the average credit price declined in the week ended Sunday December 8, figures released on Wednesday December...
12.12.2024
Grease prices continue to soften while Gulf UCO trades stable to higher
The US animal fats and oils markets continued to show mixed dynamics on Thursday December 12, with tallow markets remaining notably quiet while grease prices continued to soften across...
12.12.2024
Looming port strike adds negative price risk to animal protein markets: sources
Negative sentiment continued to hang over the meat and bone meal (MBM) markets on Thursday December 12, although trading reports were limited throughout the day.
Much of the...