Trading was active midweek with most buyers paying higher than last traded prices. Processor branded steers increased $1, signifying increased hide demand than several weeks ago. Branded steers are in high demand from buyers for processor and packer material.
Colorado branded steers and heavy dairy steers traded $1 higher than last traded levels as well. Interest for this material was from tanners in China and Korea.
Branded cows saw improvement of $0.75 on northern and $0.50 on southwestern. These trades are the first time the material was above $5.75 since end of March.
Auto Production Recovered But Sales Remain Weak
With improved supply chains in the automotive industry, vehicle production figures have recovered but sales remain weak. Recently released Federal Reserve Economic Data (FRED) reported May auto sales of 1.41 million units, down 12 percent from the 2017 to 2019 May average. Higher interest rates…
01.14.2025
EIA raises US renewable diesel output forecast for 2024-25, lowers 2025 biodiesel production outlook
The US Energy Information Administration (EIA) raised its 2024 forecast for the production of renewable diesel (RD) in the US while maintaining its 2024 biodiesel output estimate in its...
01.14.2025
DCO tracks soybean oil prices higher; fats markets unchanged
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01.14.2025
USDA raises 2024/25 forecast for GCAU count, lowers feed grain use estimate
Most US animal protein prices were flat to up day on day on Tuesday January 14. Animal protein products were slow to start the week, with light volumes traded,...