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Hidenet Weekly Video Report for March 11 2018
13 March 2018

In his final report preceding APLF, Hidenet publisher Don Ohsman reports a further slice iof 5 US cents in the price of Brazilian wet blue, TR1. Fresh green prices remain steady. Brazil leather exports for February were down by 11.6% in value terms but wet blue exports were up 23% in volume. 

This is a good example of the bear action taking place in the international leather sector. In Argentina slaughter was up 16.7% and prices in Paraguay were steady.

In Europe a mixed bag of prices with good stocks of wet blue on hand. This will not be beneficial for US wet blue sales despite dollar weakness and there are signs that European buyers are holding off or buying small qualtities.

In North America prices continue to be weak to partly steady. Export sales were below sales and shipments which underlines the bearish trend and as volume has declined so have ocean freight rates.

Thus, the outlook right before APL begins on 14 March is bearish.

Here is this week’s complete report: