Raw materials Raw materials
green-weight hides of 34kg and above also decreased to €1.10 per kg. Despite these declines, the market largely
maintained stable pricing across key categories, with the price drops attributed to weak demand.
Turkey
Turkey’s tanning industry is grappling with significant economic difficulties. Although demand for cow and bull hides
remains low, reduced slaughter rates have kept prices steady, with bulls priced at $1.00-$1.10 and cows at $0.70-$0.80. High interest rates have stabilised the Turkish lira but increased labour and borrowing costs, which are impacting exporters. Both the tanning and textile sectors are under pressure, potentially causing further disruptions. Lamb prices remain unchanged, ranging from $3.50 to $4.50 per piece.
UK
The UK and Irish ox and heifer markets remained stable in November, with minor price fluctuations across different weight categories. English 36+ hides were consistently priced at £0.68-£0.70 per kg, while smaller hides (31- 35.5kg) maintained the same pricing. Irish prices increased slightly, with 36+ hides ranging from €0.86- €0.88 per kg. Contrary to earlier expectations of a price drop, prices held steady, though continuing negotiations
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exerted some pressure. In the lamb and sheep market, prices remained unchanged, with sheep skins priced at £1.00-£1.50 each and hoggets at £1.75-£2.30 each. No data was available for new season lambs.
US
The US hide market remained stable overall. Prices for heavy Texas Steers and Butt Branded Steers held firm at
$24.00 and $26.00, while Branded Steers remained at $21.00. Raw hide exports stayed at 39%, and wet blue sales saw an uptick. However, shipments were delayed, indicating logistical challenges. While sellers largely maintained pricing, economic concerns and cautious buyer sentiment left the market outlook uncertain.
Vietnam
Vietnam’s footwear industry has grown significantly, with a 25% increase in exports to the UK in 2023, fuelled by
the UK-Vietnam Free Trade Agreement (UKVFTA). This has helped the country become the world’s second- largest footwear exporter, with over 100 South Korean companies investing in the sector. Meanwhile, Vietnam’s furniture exports to the US surged by 40% in 2023, though concerns about potential new tariffs pose a risk. On the agricultural front, Japan is expanding its Wagyu beef sales in Vietnam, with a notable rise in demand for premium beef in high-end restaurants and hotels. ●
Leather International /
www.leathermag.com
Benny Marty/
Shutterstock.com
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