Trading was limited today, with hide pricing remaining unchanged from yesterday’s levels. Buyer bids are around $1 less than last traded prices, but sellers remain firm with their asking prices due to the consistent demand. Wet blue business continues firm.
Brick and mortar shopping drove Quarter 2 (Q2) luxury handbag sales to surpass pre-pandemic levels, contributing to the firm hide demand for these products. Q2 like-for-like sales at Louis Vuitton grew 84 percent from the previous quarter, finishing the first half of the year as the strongest in LVMH history. The bullish sales affirm the consumer’s eagerness to buy post-lockdowns. The Conference Board’s consumer confidence index was reported at 129.1 in July, which was the highest since February 2020. Despite the active demand, the increasing cost of cattle hides create risk for suppliers. A hide tanner suppling the handbag industry…
05.06.2024
Strong biodiesel production seen weighing on crude glycerin prices
The whispers of declining biodiesel production are meeting with resistance. Some observers have been sounding the alarm regarding declining production for over a year now, but if true, biodiesel...
05.06.2024
Average weekly hog slaughter to decrease into mid-June: Fastmarkets’ research team
Distillers’ corn oil (DCO) prices fell to 42-43.5 cents per lb delivered US Gulf on Monday May 6 for May-June shipments. There was additional trading reported on the same...
05.06.2024
Year-to-date commercial cattle production falls 2.30% y-o-y
US animal proteins prices were steady on Monday May 6. Limited trade was reported, with several market participants only testing prices, Fastmarkets heard.
US hog slaughter
Fastmarkets research...