Cow hide trading was active today with Branded Cows trading $0.50-$1 higher. Processors have reported increased bids for cow and steer hides, both increaed prices and volume. Packers and traders continue to report resitance from from buyers to higher prices. Butt Branded Steers and Colorado Branded Steers were reported down $1, driven by sellers agreeing on a lower price to move material overseas.
Pent-up consumer demand drove clothing sales and industrial production of apparel and leather goods to record high May figures. Federal Reserve Economic Data (FRED) reported May clothing sales at $26.2 billion and industrial production at 102.6 points-up from the 2016-2019 May average by 17 percent and 4 percent, respectively. As consumers return to brick-and-mortar stores and continue to shop online, clothing is expected to be the most demanded good. Mastercard’s monthly…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...