Strong Steer Hide Demand Continues to Drive Price Increases

Strong Steer Hide Demand Continues to Drive Price Increases

Steer and cow hide demand pushed prices higher today. Many sellers have stepped away from the market, content with their positions at this point in the week. According to the USDA export sales report, China was the largest buyer by volume, representing 74 percent of the global cured hide sales. Chinese customers represented 37 percent of the global wet blue sales while Vietnam made up 26 percent. With hide prices increasing quickly over the past two weeks there is concern from some that leather prices will incease in conjuction, which could lead to reduced leather usage from the designers. 


Today’s Trades

[HIDE-SALES]


U.S. Export Sales & Shipments for Week Ending March 11

USDA Cured Hide and Wet Blue Export Sales Recap

For week ending March 11, export sales for 2021 marketing year decreased 2 percent to 652,011 from 662,255 and shipments decreased 6 percent to 463,697…

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

11.22.2024

Biodiesel margins rise, but window of opportunity limited

Biodiesel margins rise, but window of opportunity limited

Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.

11.22.2024

Gulf prices average higher despite weeklong declines in SBO

Gulf prices average higher despite weeklong declines in SBO

For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...

11.22.2024

Bloodmeal largest price mover week on week; November cattle on feed higher

Bloodmeal largest price mover week on week; November cattle on feed higher

US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...

Latest Tweets