Market sources expect more turbulent times ahead for US vegetable oil market
To kick off 2024, US soybean oil futures sat below $0.49 per lb in Chicago. Over the course of...
Several sellers reported that a short list of hide offers would be released late on Tuesday December 31, but interest from Chinese buyers had already been received. Bids had been fair, neither overly aggressive nor too low, reflecting a balanced market dynamic, sources said. However, the supply outlook remains tight, with a market participants expecting a reduction in hide availability in 2025.
Packers maintained firm pricing due to stable supply levels, but weak and unchanging leather prices continue to limit their flexibility. Sellers...