Montana Renewables Returns to Full Operations
In August of 2023, Montana Renewables (MRL) reported a leak in the steam recovery system on their renewable hydrogen plant. The plant was able to continue operations with a...
With Italian tanners now back to work and the ACLE having just finished, things are a little clearer as to what direction we are moving. Firstly, leather prices are still very much under pressure and volume orders are hard to come by. However, it would appear that things are a little brighter for better quality hides while the pressure still remains for the lower-quality material. This has translated into heavier ox hides increasing by US$1-$2 per piece be it from Asia or Italy.
Cows more or less unchanged—perhaps up by US$1 for the better selections/weights. Lighter weight material there is absolutely no change. Some tanners, particularly those in Europe, are saying that these small increases are being obtained largely due to the low supply/low kill of good-quality hides in UK. This, coupled with some supply disruptions being caused by Irish farmers against the larger Irish abattoirs, is applying some pressure on tanners to pay a little more. It will be interesting to see if prices settle back down again when the kills start to increase in the autumn.
In the short term, small increases may be seen.
Wet salted ox/heifer avg 30/32 kg @ US$29-$32 per pce C&F Asia
**Visit our International Hide & Leather Bulletin to see market news for additional countries across globe.**
USDA Hides and Skins Report
Net sales of 342,700 pieces reported for 2019 were up 2% from the previous week, but down 4% from the prior four-week average. Whole cattle hide sales totaling 343,100 pieces primarily for China (180,600 pieces, including decreases of 5,600 pieces), South Korea (80,000 pieces, including decreases of 1,700 pieces), Mexico (68,700 pieces, including decreases of 100 pieces), Japan (5,700 pieces, including decreases of 200 pieces), and Indonesia (2,900 pieces), were partially offset by reductions for Brazil (100 pieces). Exports of 447,000 pieces reported for 2019 were up 27% from the previous week and 6% from the prior four-week average. Whole cattle hide exports of 435,000 pieces were primarily to China (237,500 pieces), South Korea (96,900 pieces), Mexico (47,900 pieces), Thailand (17,200 pieces), and Indonesia (13,300 pieces).
Net sales of 54,600 wet blues for 2019 were down 38% from the previous week and 17% from the prior four-week average. Increases primarily for China (14,100 unsplit), Vietnam (13,300 unsplit), Mexico (7,600 grain splits and 4,800 unsplit), and Italy (8,900 unsplit), were partially offset by reductions for Vietnam (200 grain splits) and Italy (200 grain splits). Exports of 131,800 wet blues for 2019 were up 4% from the previous week, but down 12% from the prior four-week average. The primary destinations were Vietnam (37,300 unsplit and 3,700 grain splits), Thailand (28,500 unsplit), Italy (24,400 unsplit and 3,700 grain splits), and China (19,900 unsplit and 2,000 grain splits). Total net sales of splits, 339,000 pounds for 2019, were reported for Vietnam. Exports of 312,900 pounds were to Vietnam (162,900 pounds) and China (150,000 pounds).
Link to Complete USDA Report: EXPORT-SALES/HIDESFAX
Market Ends Dull Week with Flurry of Lower Trades
*Please Note - Ryan Standard was out of the office today. He will return on Monday, December 4, 2023. In his absence, please contact Amanda Luhavalja at [email protected].*