Recent strong electric vehicle (EV) sales added further risk of reduced automotive hide demand due to the growing market preference for EVs, which typically contain less leather than internal combustion engine (ICE) vehicles.
According to a report released by Cox Automotive on Friday October 11, EV sales reached an all-time high in the US in the third quarter of 2024, with sales of 346,309 vehicles. The figure increased by 5% from the prior quarter and represented 8.9% of total auto sales in the third quarter, reaching a record high.
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11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...