Hide bids were “within reason” according to several market participants midweek, on Wednesday October 30. The bulk of demand was from buyers seeking out dairy steers and cows, of which suppliers reported a very limited supply available to sell. The interest to buy was from several leather sectors, including the Chinese and Korean automotive sectors and the Chinese and Mexican furniture upholstery and footwear sectors.
Strength in furniture market drives hide demand from tanners
The furniture upholstery sector of the global leather market showed recent strength in September and October, driven by optimism in the housing market and the availability of the best-quality hides of the summer and autumn months.
Federal Reserve Economic Data (FRED) recently reported September’s advanced furniture sales at $10.86 billion, down 5% from the year prior but up 10% from the 2017-2019 September average.
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11.26.2024
Biomass-based diesel market quiet ahead of US holiday
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Biofuel markets in general have slowed ahead of the implementation of the Clean...
11.26.2024
BFT prices climb as some DCO markets trend lower
Bleachable fancy tallow (BFT) prices rose again on Tuesday November 26 during another relatively quiet trade session while the market slows ahead of the Thanksgiving holiday in the US.
11.26.2024
Sluggish trade ahead of Thanksgiving; October broiler slaughter well above 2023
Trade values below the current ranges were indicated on meat and bonemeal, although reported trades were still rangebound on the day.
Fastmarkets assessed the price of poultry by-product...