11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
Several sellers in the US indicated firm hide bidding activity on Tuesday October 22, following an active weekend of trading.
Buyers, particularly from the leather upholstery sector, were very interested in cow and some steer material, probably driven by the season’s best quality of hides and good demand from furniture leather buyers, according to market sources.
Of the steer selections, dairy steer hides were the most preferred, but the tightening of supply has left sellers with reduced availability, according to several of them.
Sellers attempted to direct customers to other semi-compatible hides, such as heavy native (HNS) and butt branded steers (BBS) hides, because availability was greater for other selections.
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