Market Update
US sellers were able to trade hides $0.50 – $0.75 higher on branded cows and heavy native steers. Sellers credited the lower hide production, as well as some activity from automotive, furniture and handbag tanners, as to why prices were able to move upward today. However, a few sellers noted the automotive tanner interest began to waver today after a few weeks of strong demand.
Australian hide material continues to be lower priced in comparison to the competing countries, but sellers have increased prices about $2 each week for the past three weeks. Sellers continue to see large demand from footwear tanners and others interested in lower-quality hides.
Luxury Leather Demand Weakens in Recent Weeks
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DGD financial outlook improves despite lower Q2 margins
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US Gulf tallow prices boosted by limited spot supply, strong Chicago market
Tallow with max 20% free fatty acids (FFA) traded at 51 cents per lb delivered US Gulf on Thursday July 25, following trades earlier this week at that price.
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Animal protein values flat; June poultry slaughter below traditional trends
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US broiler slaughter
Fastmarkets' research team...