See title. Version 111. Likely caused when there's not enough liquid to convert all hides.

This is (as far as I can tell), intentional behavior. TFC barrel recipes operate in two camps:

1. Instant recipes (i.e. limewater) require an excess of item ingredient, and
2. Duration recipes (i.e. hides) will operate on the highest multiplier possible, consuming excess ingredients without producing excess product. This happens for both fluids (as barrels can't store more than one fluid), and items (behavior here).