Midweek trading for branded heifers were $0.50 higher than last traded levels.
Buyer bids for cow hides are $2-$3 lower than last traded levels and most of the interest in the market is from Chinese tanners.
Chinese shoe tanners continue to pressure the market with lower bids, talk of minimal leather orders and dropping split prices. A packer reported that splits intended for gelatin are down to 2500-3000 RMB per metric ton.
The Federal Reserve met today and decided to leave interest rates steady, for now, at the 5.25%-5.50% range. The decision to hold firm on rates came after data on the strong performance of gross domestic product, growing at an annual rate of 4.9% in the third quarter.

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