05.17.2024
Uncertainty with 45z tax credit may affect Q1 2025 biofuel contracts
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A seller told Fastmarkets that steer hide bids were on average down by $2 per piece from the previous level and cow hide bids were on average down by $3 per piece down from the last-traded level.
Hides of northern dairy cow and southwestern dairy cow traded $0.50 per piece lower at $18 per piece and $17 per piece respectively, down from $18.50 per piece and $17.50 per piece previously, while northern native cow (NHNC) hides traded down by $1 per piece at $16 per piece compared with $17 per piece previously.
The price spread between NHNC hides and lightweight Colorado branded steer hides was $2.50 per piece on April 24, narrowing from $9.50 per piece the year before. The tighter price spread is due to active buying from furniture tanners, slow buying from shoe tanners and lower cattle hide supply.
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