Hide market participants reported that most hides available continued to be of heavy weights, despite the lightening that typically happens during the late summer months. Also, most bidding activity at midweek on Wednesday August 28 was steady to current market price levels. But a few sources reported that the Guangdong Fair had little positive results due to the weak furniture upholstery business.
Due to the historically low prices of beef, ranchers preferred to hold their cattle at the feedlots for longer periods, to fatten up the animal before sending for slaughter. This was to ensure a higher amount of beef and therefore higher profit. In doing so, the hides available weighed more than the typical late-August hides.
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09.17.2024
US glycerin prices rangebound amid market uncertainty
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US animal fats and oils mostly stable; CWG edges higher on strong demand
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