US hide trading was limited following the weekend due to minimal demand. The majority of the market continues to monitor the United Auto Workers (UAW) strike that began on September 15. Hide shipments have been delayed as tanners hesitate to make new purchases while near-term auto production is unknown.
The strike consists of roughly nine percent of the UAW’s members, according to NPR. This is a small percentage of the workforce, which gives the UAW the ability to increase the number of individuals to walk off if necessary. Hide tanners and steel commodities sources have a sense the strike may last for several days or more.
Cattle Slaughter Forecast
Cattle slaughter is forecast by The Jacobsen at 625,00 head this week, up 1.11 percent from last week but down 6.88 percent from last year. Cattle slaughter finished last week at an estimated 632,000 head, down 13.06 percent from the week prior and down 6.06 percent…
09.06.2024
Signs of US economic downturn send ULSD prices to 3-year low
Shifting economic conditions are raising the possibility of a US recession. The US Bureau of Labor Statistics (BLS) released the jobs report on Friday September 6, which showed that...
09.06.2024
US fat market slides on pressure from soybean oil, energy complex
Used cooking oil (UCO), distillers’ corn oil (DCO) and yellow grease all traded lower on Friday September 6 due to pressure from the sinking heating oil and soybean oil...
09.06.2024
Sluggish trade volume keeps weekly animal protein prices flat
US animal protein prices were steady on Friday September 6, with market participants indicating light traded volumes for products.
Weekly wrap-up
Prices for US animal proteins were little...