Hide demand was consistent over the weekend with buyers willing to pay steady price levels to current market. Automotive tanners drove heavy native and butt branded steer prices up $0.50 over the course of the week. Buyers in other leather good sectors were more resistant to higher prices due to limited demand.
Consumers continue to face high interest rates which adds difficulty to borrow for new purchases. The US hide market participants have indicated that they expect the recent surge of business may only be temporary if interest rate hikes continue.
Cattle Slaughter Forecast
Cattle slaughter is forecast by The Jacobsen at 625,00 head this week, up 1.96% from last week and down 3.12% from last year. Cattle slaughter finished last week at an estimated 613,000 head, down 0.97% from the week prior and down 5.42% from last year. Over the next six weeks, slaughter is forecasted at an average of 625,830 head per week,…
09.18.2024
Waste plastic can improve SAF without increasing pollution, study says
Waste plastic can be used to improve sustainable aviation fuel (SAF), according to research announced on Monday September 16 by the Prairie Research Institute at the University of Illinois...
09.18.2024
US animal fats, oils prices mixed as DCO production hits 2-month low
US animal fats and oils markets saw mixed price movements on Wednesday September 18, with Gulf Coast markets firming as distillers’ corn oil (DCO) production levels dropped to a...
09.18.2024
US animal proteins prices steady; potential port strike could affect stocks, prices, sources say
US animal proteins markets were steady on Wednesday September 18.
Bloodmeal prices were reported to be flat day on day, though market sources continue to indicate underlying pressure, saying that...