Hidenet’s Vera Dordick reports very little change in the international hide markets this last week. The main news was President Trump’s declarations that he would take action against China due to the new Security Law which cannot bode well for trade between the two nations.
In the US. Heavy Texas Steers were unchanged at US$16 / US$17- Packers tried to push prices higher but buyers held off. Slaughter was 524,000 head in a short week due to Memorial Day; export sales 555,900 and shipments 537,500 (+12% compared to the previous week).
In Europe, some Italian tanneries ran out of work and may close for one week as June 1 and 2 are holidays so they may take the whole week. Lack of orders is now the big problem for these companies. Bulls remained weak as there is little action in auto manufacturing with some companies closing plants.
In South America, there was little change in Brazil with rawhides still at US cents 9 and wet blue TR1 at 53 US cents per sq ft.
Here is this week’s complete report: