Texas Drought Pushing Ranchers to Slaughter Cows

Texas Drought Pushing Ranchers to Slaughter Cows

Hide trading was quiet today while most offers haven’t been released yet. Shoe tanners and automotive tanners remain relatively inactive. The only items sold were branded cows that traded $0.50 lower than last traded levels. The seller reported a recent influx of cowhides to his plants since the drought in Texas is pushing ranchers to sell their cows.

An automotive tanner reported they remain interested in buying material but at small volumes due to the uncertainties revolving around the strike. Auto tanners continue to watch the negotiations amongst the three major automakers and United Auto Workers (UAW) union. Auto tanners are concerned that if the strike continues, the UAW may target plants that manufacture popular selling trucks and SUVs, which contain more leather than most other vehicles. If these plants are targeted, auto tanners may be instructed by Original Equipment Manufacturers (OEMs) to further delay hide shipments.

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