The US hide market was quiet on Wednesday November 6 following the US re-election of President Donald Trump. Many market participants discussed possible near-term market directions under a second President Trump term.
Considering that over half of US hides are traded to China, hide prices are at risk of decreases to help offset increases for Chinese manufacturers to sell in the US, according to Fastmarkets analysts. The Trump Administration proposed a 60% tariff on Chinese imports, a major increase from the 7.5-25% tariffs imposed during President Trump’s first term.
As of October 24, approximately 56% of total hide production in the US was exported to China, according to the United States Department of Agriculture.
…
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.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...