Hidenet’s Vera Dordick reports that the US market was very quiet last week due to the Lunar new year in China and many parts of Asia. With little trading Heavy Texas Sters were around US$30 which many considered a little low.
The USDA is catching up with its statistics but there could be another government shutdown looming on February 15 as negotiations are not going well.
In Europe the market was also quiet with little change from the previous week. Lower slaughter has affected bull prices and high end leathergoods manufacturers are operating at high capacity as demand continues to be driven by consumers.
In Latin America, trade in Brazil was quiet also with little change from the previous week. Brazilian sales at the Chennai fair were not as high as anticipated although Abicalcados reported a better start to exports in January 2019.
Here is this week’s complete report: