Steer trading traded at steady prices today with Branded Steers and Heavy Texas Steers unchanged from the last traded levels. Bids on hides are $1-$2 lower than current trading levels, but negotiations will continue moving into the end of the week. Tanners in Korea and Taiwan continue to show strong demand for US hides, but Chinese tanners are shifting their interest towards Australia due to steady asking prices that are less expensive than US material. COVID interruptions have shuttered operations in Vietnam, which has cut off nearby demand from that country.
Leather furniture demand remains robust, but tanners are concerned if growth will be sustained due to labor and building material supply issues in the home starts market. June’s Federal Reserve Economic Data (FRED) was released reporting $11.7 billion in furniture sales, up 18 percent from the year prior and up 22 percent from the…
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...