Steer hide prices were unchanged today from the last traded levels despite the growing concerns of COVID-19 disruptions. Buyers are wary of the challenges the virus will cause with production, labor and demand for finished product. Negotiations between buyers and sellers continue for several items, but the consensus is that buyers are bearish on the market. However, auto tanners remain active in the market for leather orders and continue to exhibit strong demand. The global need for new cars continues to push demand for material, but the bottlenecks remain due to the chip shortage and COVID-19 outbreaks slowing the supply chain. Currently, buyers in Korea are the most active bidders in the market, but further slowdown is expected heading into next week.
…
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...