Hidenet Editor-in-Chief, Vera Dordick reports that there was quite a lot of news from Italy during Lineapelle. For example, visitor numbers were lower since, due to weak prices, sellers could not recoup the cost of the trip to Milan. In addition, there was talk about bids being made for certain tanneries and all this was happening while quality cows maintained their levels, lower quality was sold at discounted prices while bulls slid in the face of declining automotive demand.
The US market was quite due to the short week in China which celebrated uts 70th Anniversary. Activity was minimal but Heavy Texas remained steady at US$28 up one dollar from last week. Slaughter was 639,000 and combined export sales were up dramatically at 806,200 with shipments coming in at 545,300.
Vera notes that shipments will have to grow if hides are to arrive in China before the 15 December deadline for the tariff increases to be implemented.
In Brazil raw hides are still US cents 15. Wet blue TR1 is still quoted at US cents 45 – 48 per sq ft.
Here is the complete report: