Outstanding Export Sales
Tables 1 and 2 below show the total outstanding cured hide and wet blue export sales by selected countries through August 15. Through Week 33, the total outstanding sales are 5.067 million from 4.730 million the prior week. With the same period average weekly slaughter at 596,512 head, the cumulative outstanding sales represent 8.49 weeks of production from 7.95 the previous week.
Table 1 & 2.
Today’s Market
Steer selections continue to move higher. Heavy Texas and Branded Steer selections moved up today and sources continue to report that packers have been successful in putting on longer positions at higher prices.
HTS 62/64 @ $18.00
BS 62/64 @ $16.00
BS 66 MIN @ $17.00
HTS 62/64 @ $13.00
BS 60/62 @ $8.00
China
There is not much change this week. American sellers continue to hold prices very steady or firm while many Chinese buyers are wondering what to do at this moment—whether to pay higher prices or choose to wait.
Rumors that the real HTS price is around US$25-26 C&F per hide for this week even though the hides were offered at US$30 or higher by a few sellers earlier in the week.
The furniture upholstery leather and automobile leather business are improving each week which has increased prices for some hides in the world.
Most of the shoe leather tanneries are still struggling because of the shrinking demand from the leather shoe market.
Some of the buyers have begun to be careful to pay higher since they claim that weekly American hide production is still very high while many tanneries in China aren’t very busy. These buyers might prefer to play it safe on higher hide prices.
**Visit our International Hide & Leather Bulletin to see market news for additional countries across globe.**
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