USDA Reports Strong Export Hide Sales to China

USDA Reports Strong Export Hide Sales to China

In today’s market, tanners in China purchased steer hides at prior levels and bought other steer hides at slightly lower values. Regular-weight Heavy Native Steer (HNS) hides traded sideways today, whereas regular-weight Colorado Branded Steer (CBS) hides traded down $0.75/piece from last reported levels.

Hide sellers shared most bids for steer material that were received were under current market prices so they will counter their business tonight. Sellers expect more trading activity to conclude tomorrow or after the weekend.

The USDA export sales figures for the week ending January 25th, were strong, as detailed below. Chinese buyers represented 68.6 percent of the total cured hide sales for the week, while Mexican tanners represented 2.6 percent of the total cured hide sales. Tanners in Mexico continue to be relatively inactive in the market due to depressed automotive lather demand.

Membership is required to view the rest of this post.
Click here to learn more and sign up for a free 7-day trial!

Blog

03.01.2024

Cold, Winter Weather Impact January Soybean Crush

Cold, Winter Weather Impact January Soybean Crush

**Bob Lane was out of the office today and will return on Monday, March 4, 2024.**

U.S. soybean crushing volumes totaled 195 million bushels in January, the USDA reported on...

03.01.2024

Week Closes with Active Gulf Market

Week Closes with Active Gulf Market

Used cooking oil (UCO) traded as low as 39.5 cts/lb into the Gulf market with bids and offers heard in a wide range over the last 24 hours. Offers...

03.01.2024

Animal Proteins – Friday

Animal Proteins – Friday

The market was quiet today with no changes. 

Looking at the monthly averages in February, the markets were mixed in terms of price direction with intra-month volatility seen. 

Latest Tweets