In today’s market, tanners in China purchased steer hides at prior levels and bought other steer hides at slightly lower values. Regular-weight Heavy Native Steer (HNS) hides traded sideways today, whereas regular-weight Colorado Branded Steer (CBS) hides traded down $0.75/piece from last reported levels.
Hide sellers shared most bids for steer material that were received were under current market prices so they will counter their business tonight. Sellers expect more trading activity to conclude tomorrow or after the weekend.
The USDA export sales figures for the week ending January 25th, were strong, as detailed below. Chinese buyers represented 68.6 percent of the total cured hide sales for the week, while Mexican tanners represented 2.6 percent of the total cured hide sales. Tanners in Mexico continue to be relatively inactive in the market due to depressed automotive lather demand.
…
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...