There were grumblings in the US hide market in the week ended Friday August 2 about a packer that offloaded a large volume of cured hides at discounted prices into Asia, as well as buyers that walked away from sellers’ counters to low bids.
Also, market participants were increasingly concerned about leather demand amid recent reports of a bearish macroeconomic environment.
The US Labor Department reported that job growth slowed in July, and unemployment reached 4.3%, the highest level since October 2021.
Consumer affordability continued to be a huge strain on the leather industry — it led to poor sales in several leather-consuming sectors and weaker hide demand. Fastmarkets’ analysts expect depressed hide prices to persist while weak consumer affordability remains an obstacle.
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11.27.2024
Regional biodiesel prices stable amid low buying, selling interest
Regional biodiesel prices were stable on Wednesday November 27 amid low buying and selling interest.
Biofuel markets in general have slowed ahead of the implementation of the Clean...
11.27.2024
US animal fats and oils markets quiet amid Thanksgiving holiday; ethanol, DCO production hits record high
The US animal fats and oils markets was steady on Wednesday November 27, as trading was subdued ahead of the Thanksgiving holiday.
The...
11.27.2024
US animal protein November price average higher month on month
US animal proteins were steady on Wednesday November 27. Light trade was reported from market sources on the last day ahead of the extended Thanksgiving holiday weekend.
November...