This week Hidenet publisher Don Ohsman reports that fresh green prices in Brazil are unchanged and in Argentina they remain steady. Little change in asking price for TR1 wet blie from Brazil now at 90 US cents with some tanners asking for USD1. Business is not terrific but is moving along.
In other news from Latin America Don reports that TR1 prices in Paraguay are firm and Argentine slaughter fell last week. There is a move afoot in Brazil to end export tax on wet blue to make it more competitive.
In Europe prices are softening as they adjust to currency considerations as raw material was more expensive and not it is gradually coming into line with other world prices. For example, the rise of US wet blue being sold into Italy has forced prices down in Europe. This week cows were lower across the whole continent and buls remained firm but with evidence of some discounts creeping into trades.
In North America steers remain steady for the sixth consecutive week with benchmark Texas around USD48 fob. Hide export sales were 897,000 which is very high but export shipments were only 618,000 which matches the slaughter level. The US market is characterized by high sales but slower shipments and as a consequence there are currently 4.7 million hides overhanging the market.
The question is – has the hide market in the US finally bottomed out?
Here is this week’s complete report: