Steer hide packer prices fell $0.50 for jumbo weight Heavy Texas Steer (HTS), light and regular weight Butt Branded Steers (BBS) and all weight classes of Colorado Branded Steers (CBS). Shipping difficulties in China as well as the worsening COVID-19 cases around the world are bringing strain to hide trading worldwide.
Federal Reserve Economic Data (FRED) reported October 2020 US retail shoe sales data at an increase of $86 million from the prior month and down 10 percent from the prior four-year October average. Since June, retail shoe sales have been steady with less than 1 percent of a decrease. Historical data shows seasonality in the sales, with seasonal peaks in December. The December 2016 to 2019 average reached $4.3 billion in sales from a low of $2.7 sales in September. This 61 percent rise occurred when market conditions were normal, and sales were undisturbed. With the poor market conditions caused by the COVID-19 pandemic in 2020, a sales peak as dramatic as the prior four-years is not expected for December. The Jacobsen estimates the number of hides used for shoe manufacturing in October 2020 to be 18 percent off of the prior four-year October average. The Jacobsen projects hides usage in this sector to rise 46 percent in December 2020 from the seasonal low in September. Growth is still expected month-over-month for Q4 of 2020 reasonably due to economic recovery. While in store sales may suffer, Adobe Analytics reported record Cyber Monday sales at $10.8 billion.
Figure 1.
Press Release
Curtiembres Fonseca, one of the leading tanneries in Argentina, with 66 years of history, was bought by a group of local investors with diversified investments in various industries.
The new board of directors will be led by Mr. Raul Zylbersztein, a businessman with a large experience in the leather industry. But, the current management team of Fonseca will remain on board to be able to continue their services without any changes.
The new shareholders are planning to continue the strong commitment shown by Fonseca with its customers, employees and suppliers during its long and successful history, with the aim in increasing the business during the next years.
Fonseca currently produces over 1,000,000 hides annually for the automotive, handbag and shoe industries in their tannery in Buenos Aires. The new investment team will help the company to grow this volume and expand our business with our existing and new customers.
HTS 70 MIN @ $29.50
BBS 62/64 @ $34.50 OR 0.4275
BBS 66/68 @ $35.00 OR 0.4075
CBS 62/64 @ $24.50 OR 0.3025
CBS 66/68 @ $25.00 OR 0.2900
CBS 70 MIN @ $27.00 OR 0.3000
NHNC 51/53 @ $16.00 OR 0.2400
NBC 51/53 @ $14.00 OR 0.2100
SBC 51/53 @ $13.00 OR 0.1950
N Bull 105 MIN @ $13.00 OR 0.1250
B Bull 105 MIN @ $11.00 OR 0.1050
BBS 62/64 @ $28.50 OR 0.3525
BBS 66/68 @ $28.50 OR 0.3325
CBS 62/64 @ $18.50 OR 0.2300
CBS 66/68 @ $18.50 OR 0.2150
CBS 70 MIN @ $20.00 OR 0.2225
NHNC 51/53 @ $12.50 OR 0.1875
NBC 51/53 @ $10.00 OR 0.1500
SBC 51/53 @ $9.00 OR 0.1350
N Bull 105 MIN @ $9.00 OR 0.0850
B Bull 105 MIN @ $8.00 OR 0.0750
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