05.02.2024
UCO, heating oil spread widens
Yellow grease traded as low as 34 cents per lb delivered Carolinas on Thursday May 2, with additional volume heard at 36 cents per lb. Despite the decrease, offers...
The US hide market remained relatively steady for the week with a couple of active trades. Both light and regular weight native steers traded lower by $0.25. Butt branded steers traded down $0.50. Colorado branded steers traded down $0.25. Branded heifers traded $0.25 below yesterday’s price point. Additionally, sources reported high interest in cows.
It appears that rising interest rates are still affecting consumer spending. Many shoe manufacturers do not expect the situation to improve anytime soon. Disruptions to global supply chains combined with the slow economic rebound have resulted in several major automakers slowing production, which may soon have a negative impact on steer prices.
Actual Slaughter by Classification
Table 1.
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