US hide sellers worked to clear material amid shifting demand trends, Fastmarkets heard on Wednesday November 20. Several sellers told Fastmarkets that they featured a short offer list with limited well-sold hides, focusing primarily on fed steer selections. Packers offered butt branded steer hide selections for January delivery with buyers bidding at flat-to-slightly lower prices, reflecting a cautious stance.
A few market participants said that higher-end leather, particularly for upholstery and automotive use, maintained strong demand, supported by active buying from regions such as China, South Korea, Thailand and Mexico. This demand contrasted with the shoe leather segment, where tanners pulled back from purchasing due to elevated inventories, particularly of side-branded cured hides. This oversupply added pressure to prices in that category, affecting traders and processors more significantly than packers.
…
11.20.2024
Biodiesel supply tightens heading into the new year
Producers, blenders and fuel suppliers are reporting a slowdown in trading this week. A Fastmarkets survey of participants showed that overall sentiment has the market slowing ahead of...
11.20.2024
California UCO prices climb; DCO production eases slightly from record high
US animal fats and oils prices showed mixed trends on Wednesday November 20, with most market activity concentrated in the Gulf and West Coasts.
11.20.2024
US animal proteins steady; avian flu in birds increases in fourth quarter
US animal protein prices were steady on Wednesday November 20. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving weekend starting on Thursday...