U.S. Steer raw hide and wet blue hide suppliers held firm on their asking prices last week, and that mind set allowed them to hold prices steady for the week. But, this stance also appeared to limit the volume of business that they could put together. In the meantime, Fed cattle processors were able to pull in record per head profit margins last week, as the price for Fat cattle dropped a good bit more than wholesale beef prices. According to analysts, this allowed packers to reap those … [Read more...] about The Hide Market Report – June 19, 2017
Hide Market
The Hide Market Report – June 12, 2017
By the end of last week, both U.S. Steer and Cow hide suppliers were able to move product at prices steady to up $1.00 on mostly all selections. The volume of business done did not appear to come close to matching the week’s production, but it was enough to allow us to say that suppliers were able to dispel any talk of a weak market, for now. Tanners continued to say that their business does not warrant higher hide prices, but enough of them entered the hide market last week to allow suppliers … [Read more...] about The Hide Market Report – June 12, 2017
The Hide Market Report – June 5, 2017
Last week’s Holidays here in the U.S. and in Asia made for a short trading week. Coming off a couple good weeks of sales, U.S. Steer hide suppliers put out offer lists that were smaller than they had been for several weeks. The asking prices on those lists were at steady to slightly higher than their prior week’s offerings. In the end, the lack of bids from tanners and the reluctance of suppliers to accept those lower bids kept the volume of Steer hide business that was put together to a … [Read more...] about The Hide Market Report – June 5, 2017
The Hide Market Report – May 29, 2017
Well, things were a bit less active in the U.S. hide market last week. It was a slower week than the previous week, when we saw a very active market and more than a fair amount of business put on the books. Last week started with U.S. raw hide and wet blue suppliers putting out offer lists that were shorter than their previous week’s offering lists. The asking prices on those lists were steady on most selections, and up as much as $1.00 on other selections. Tanners, for their part, started … [Read more...] about The Hide Market Report – May 29, 2017
The Hide Market Report – May 22, 2017
The hide market finally awoke from hibernation last week and there was plenty of business to be done. Late the prior week, some customers whom had been sleeping on the market started to wake up and were looking to purchase hides. That late-week activity spilled into last week and the market was off and running from the start. This is not to say that prices had improved, with Butt Branded Steers first being traded at $66.00 FOB then inching down to $65.00 and by the week’s end touching … [Read more...] about The Hide Market Report – May 22, 2017
The Hide Market Report – May 15, 2017
There was a good deal of interest in U.S. hides last week, and that interest developed in to a fair amount of business being put together. To get the job done, U.S. hide suppliers had to accept prices that were $1.00 to $3.00 per hide less than their previous sales levels, depending on the selection and origin. The week started with asking prices that were down from the previous week’s asking price, but still higher than their sales levels. After a good deal of back and forth, tanners and … [Read more...] about The Hide Market Report – May 15, 2017
The Hide Market Report – May 8, 2017
Rumors, Rumors and more Rumors- that is the best way to describe the U.S. hide market. Most of the rumors were regarding packer(s) voluminous sales to large tanners in Asia at prices that were more than a little below what most considered last week’s market prices. These rumors, along with the May Day and other holidays last week, did put a damper on the market and the number of U.S. raw and wet blue hides traded. From what we could tell, most of the Chinese tanners remained on the side lines … [Read more...] about The Hide Market Report – May 8, 2017
The Hide Market Report – May 1, 2017
There was more action in the U.S. raw hide and wet blue hide markets last week than we had seen in recent weeks. Again, there were a sizable number of bids being made by tanners, and again those bids were anywhere from $1.00 to $4.00 less than suppliers offering prices. The difference last week was that suppliers counter those bids at prices that were acceptable to a sizable number of their tanner customers. As a result, those counters generated a good amount of business being booked. Korean … [Read more...] about The Hide Market Report – May 1, 2017
The Hide Market Report – April 24, 2017
U.S. raw hide and wet blue hide prices continued to decline last week. According to the two largest U.S. based reporting services all U.S. hide selections prices dropped by $1.00 to $2.00 last week. The big question for us at the end of last week was, were U.S. sellers able to put enough business on the books to stabilize raw hide and wet blue prices? The answer we believe is that if sellers did not market a week’s production they came darn close. Many Asian tanners continue to complain … [Read more...] about The Hide Market Report – April 24, 2017
The Hide Market Report – April 17, 2017
Things started slowly for the U.S. hide market last week with a limited number of bids in the market for the first three days. Most of those bids were $2.00 to $3.00 below what suppliers were asking. By Thursday business picked up as the number of tanners biding and the volume of those bids jumped up dramatically. The prices being bid also moved up to within $1.00 to $2.00 of what sellers were offering. As a result, by the close of business on Friday afternoon a good round of business had … [Read more...] about The Hide Market Report – April 17, 2017
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