The US hide market was relatively quiet in terms of trading on Monday September 23, with the main discussion centered around the European Union Deforestation Regulation (EUDR) and its impact on the US hide industry.
The EUDR is set to come into force on December 31 for large companies and on June 30, 2025, for smaller companies. The aim of the regulation is to prohibit several commodities that are linked to deforestation, such as beef and cattle hide, from entering the EU for trade. The EU is requiring traceability of the commodities back to the birth farm to prove there is no link to deforestation. The main targets of the policy are South American producers, but Canadian and US producers were included in the policy as well.
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