The US hide market started the week slowly after a moderate amount of business over the weekend. Reported by a few tanners in China, wet blue sellers had sold good volume of material at discount price levels last week. Buyers believe packers’ inventory were building up and they needed to move material to make room for incoming cured hides.
The overall global economy remains weak due to the war in Ukraine, high interest rates, inflation and limited consumer spending. Hide sellers are concerned with increased hide demand happening until the economy improves.
Cattle Slaughter Forecast
Cattle slaughter is forecast by The Jacobsen at 640,000 head this week, up 11.69% from last week and down 4.63% from last year. Cattle slaughter finished last week at an estimated 573,000 head, down 8.32% from the week prior and down 5.69% from last year. Over the next six weeks, slaughter is forecasted at an average of 630,830 head…
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...
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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...