Market Update
The week ended with several sellers reporting a strong week of sales for wet blue and lower quality cured hides to large tanners in China. Several sellers said the amount of sales outperformed the week prior.
Price levels on material remained steady due to push back from tanners on price increases. Multiple tanners shared that the leather prices in the domestic Chinese market remain depressed which do not give support to raw hide price increases. Despite this, sellers continue to push for higher than current market price levels on some items due to the consistent demand.
Sellers have seen strong demand for Braded Steer and Butt Branded Steer hides through an increase in bids leading some to push their offer prices higher heading into the weekend.
…
05.06.2024
Strong biodiesel production seen weighing on crude glycerin prices
The whispers of declining biodiesel production are meeting with resistance. Some observers have been sounding the alarm regarding declining production for over a year now, but if true, biodiesel...
05.06.2024
Average weekly hog slaughter to decrease into mid-June: Fastmarkets’ research team
Distillers’ corn oil (DCO) prices fell to 42-43.5 cents per lb delivered US Gulf on Monday May 6 for May-June shipments. There was additional trading reported on the same...
05.06.2024
Year-to-date commercial cattle production falls 2.30% y-o-y
US animal proteins prices were steady on Monday May 6. Limited trade was reported, with several market participants only testing prices, Fastmarkets heard.
US hog slaughter
Fastmarkets research...