Trading over the weekend was minimal and sellers reported no price changes.
Tanners in Europe were very inactive with many slowing for the summer vacation season. Sellers in Europe are struggling to attract demand due to the weak global demand for leather goods.
Chinese traders are concern about the future of leather business due to the abundance of competitive materials available at lower prices and due to the slowdown in the Chinese economy. The Chinese customs administration reported June’s exports fell 12.4 percent in value from June of 2022. The decline in exports as well as the weak domestic demand is contributing bearishness to the overall global economy. 

Cattle Slaughter Forecast

Cattle slaughter is forecast by The Jacobsen at 640,00 head this week, up 1.11 percent from last week and down 3.53 percent from last year. Cattle slaughter finished last week at an estimated 633,000 head, up 17.44…