Today’s Market
There were minimal changes today in the US hide market. Heavy Native Steers returned to last week’s high of $34. The overall market is quiet as Chinese customers are still away on holiday. The demand for high grain quality hides from the upholstery business is still driving Dairy Steer and Cow Hide interest.
[HIDE-SALES]
Outstanding Export Sales
Tables 1 and 2 below show the total outstanding cured hide and wet blue export sales by selected countries through September 26. Through Week 39, the total outstanding sales are 4.875 million from 5.068 million the prior week. With the same period average weekly slaughter at 602,778 head, the cumulative outstanding sales represent 8.09 weeks of production from 8.43 the previous week.
Table 1 & 2.
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...