Hidenet CEO and Editor-in-Chief, Vera Dordick, reports that the hide market in the US was quiet in the last week as Chinese buyers wind down for the Lunar New Year holiday that starts on 25 January.
There were no reported trades for Heavy Texas Steers (66 – 68lb) and so the niminal price is still US$28. However, there was interest in cows and some observers are expecting changes in that market after Chinese New Year.
Slaughter was estimated at 631,000 head, sales were disappointing at only 391,800 and shipments were 554,300.
In South America raw hides in Brazil are unchanged at US cents 14 and TR1 is steady ay US cents 55 per sq ft. Any changes to these levels will come in February after the Chinese holiday.
In Europe, many selections were higher this last week. UK 36+ ox rose to 80 – 73 pence per kilo from 78 pence in the previous week. Cows showed more interest and were firm as were bulls but in this case due to lower slaughter. The feeling in the market in Europe is that bulls may show more recovery potential as the weeks advance.
Here is this week’s complete report: