While it may be premature to say that the bloom is off the rose, this week activity in the US hide market is slower and buyers appear to have backed off some. The buying surge in late October and early November which covered the bulk of hides needed ahead of the China New Year holiday may be the reason for the lull and a number of Chinese tanners have blocked shipments for the weeks of December 5 and 12. For the moment, prices are holding but…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...