May 7 Cured Hide and Wet Blue Hide Exports

May 7 Cured Hide and Wet Blue Hide Exports

Outstanding Export Sales

Tables 1 and 2 below show the total outstanding cured hide and wet blue export sales by selected countries through May 7. Through Week 19, the total outstanding sales are 4.512 million from at 4.666 million the prior week. With the same period average weekly slaughter at 580,795 head, the cumulative outstanding sales represent 7.77 weeks of production from 7.95 the previous week.

Table 1 & 2.

Today’s Market

The US hide market remains the same with steady prices. More businesses worldwide reopen and news on drug trials for a coronavirus vaccine has built investor confidence, with the Dow jumping 911 points on Monday.

Today’s Trades

Packer Sales

HNS 58/60 @ $22.00 OR 0.2900
HNS 62/64 @ $23.00 OR 0.2850
HNS 62/64 @ $23.50 OR 0.2900
BS 62/64 @ $13.00
BS 66 MIN @ $14.00
HNH 50/52 @ $17.00 OR 0.2600
HBH 50/52 @ $13.50 OR 0.2075
NHNDC 52 MIN @ $5.00 OR 0.0750

Processor Sales

HNS 58/60 @ $16.00 OR 0.2125
HNS 62/64 @ $18.00 OR 0.2225
BS 60/62 @ $8.00
HNH 50/52 @ $14.00 OR 0.2150
HBH 50/52 @ $7.00 OR 0.1075
NHNDC 50/52 @ $6.00 OR 0.0925

Cured and Wet Blue Export Shipments by Selected Countries  —  Through May 7

The International Market

China

A few American sellers raised their asking prices this week, but many Chinese buyers seem willing to pay more. The leather business remains unchanged, with very little new business for most of Chinese tanneries.

A few tanners claimed they can still get low prices if they want to buy hides again, despite the higher asking prices. But, they pointed out it does not make much sense to keep buying hides while there are very little leather orders.

A few other tanners think now is a good time to buy hides because they don’t believe the hide price will drop much lower. However, these tanners are still considering and not buying due to the future risk for leather business and the impact of the coronavirus outbreak. People need to get back to normal spending again and then leather business should slowly return.

**Visit our International Hide & Leather Bulletin to see market news for additional countries across globe.**

Industry-Related News

May 18 (Business Insider) – Moderna’s coronavirus vaccine just showed signs of success in a preliminary study, raising early hopes in the fight against the pandemic

In a milestone moment in the race for a coronavirus vaccine, the first results in humans showedModerna’s vaccine candidate led to antibody responses in a handful of healthy volunteers. The Massachusetts biotech on Monday described the immune-system responses to the vaccine from this first, small study that was primarily focused on safety. The results don’t yet show whether the vaccine would prevent people from being infected with the novel coronavirus. Finding an effective coronavirus vaccine has become a global priority in ending the pandemic. US government leaders have put forward the ambitious timeline to have one by the end of 2020. It typically takes several years to develop a vaccine. The trial was conducted by the US National Institutes of Health. Moderna is planning to soon start a mid-stage study and then begin a late-stage trial in July. The company hopes its vaccine could be ready for emergency use this fall, a timeline with no precedent in the history of vaccine development. READ MORE

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