Appeals Court Strikes Down EPA’s Denial of SREs
*Please Note – Bob Lane was out of the office today and will return on Tuesday, November 28, 2023.
On November 22, a U.S. appeals court struck down a decision...
Steer hides traded higher than yesterday’s levels and lower in some cases. Regular weight heavy native steers traded $0.50 higher than yesterday, heavy dairy steers traded sideways and regular weight butt branded steers traded down $1.
The majority of sellers in the hide market remarked on weak leather demand and buyer requests to slowdown shipments. Footwear and auto tanners were somewhat active today from Mexico, China, Taiwan and Japan. Upholstery and handbag remain slow. The luxury sector continues firm but sellers have noted a slight slowdown of hide purchases.
A few U.S. big packers pushed offers at higher price levels this week, but most buyers are hesitant to accept. Due to a bearish economy and building inventories at tanneries, buyers are resisting increased prices. Several sources remarked that packers may also struggling with high inventories of mainly wet blue, but also cured hides despite claims of being well sold.