Raw materials
Butt-branded steers 60 –
50 – 40 – 30 – 20 – 15 – 0
1020304050 Weeks
Heavy Texas steers 60 –
50 – 40 – 30 – 20 – 10 – 0
1020304050 Weeks
Heavy native steers
65 – 60 – 55 – 50 – 45 – 40 – 35 – 30 – 25 – 20 –
0
1020304050 Weeks
Branded cows 30 –
25 – 20 – 15 – 10 – 5 – 0 – 0
1020304050 Weeks
2021 2022 2023 2024
2021 2022 2023 2024
2021 2022 2023 2024
2021 2022 2023 2024
environment remains complex and uncertain, requiring careful management and strategic planning to ensure continued progress.
Exports
Raw hide sales in July presented mixed results. Net sales for 18 July totalled 443,800 pieces, a 7% decline from the previous week’s 476,000. Despite this dip, the July average of 399,125 pieces was up by 23.80% from June, indicating a gradual recovery. However, this figure was only slightly up by 0.75% compared to July 2023. China remained the leading destination, purchasing 368,300 pieces, followed by Brazil with 20,100 pieces and Mexico with 16,200 pieces. Shipments of raw hides for the week ending 18 July increased by 7%, totalling 384,800 pieces, up from the previous week’s 359,500. Despite the weekly improvement, July’s average shipments were down by 3.44% from June and 8.16% from July 2023. Wet blue sales faced a more significant decline, with net sales for 18 July dropping by 22% to 156,300 pieces, down from the previous week’s 199,200. The July average for wet blue sales was 115,500 pieces, marking an 18.43% decrease from June and a 13.09% decrease from July 2023. Italy and Vietnam were the top buyers, purchasing 85,900 and 48,500 pieces, respectively. Shipments of wet blues for the week ending 18 July saw a notable increase of 26%, reaching 150,700 pieces, up from 119,300 the previous week. This rise in shipments provided some relief, but overall, July’s average shipments were still 3.72% lower than in June, underscoring the market’s volatility. For the period ending 18 July, the combined total of raw and wet blue hides sold but not yet shipped was 2,979,300 pieces, a significant 27.7% decrease from the previous week. This drop reflects the ongoing challenges in matching sales with shipments, despite occasional improvements in weekly data.
WASDE: Beef production forecast increased for 2024 and 2025 ‘The World Agricultural Supply and Demand Estimates Report’ for 12 July 2024 presents an updated forecast for US livestock, poultry and dairy production, with notable changes in the cattle sector. For 2024, beef production is projected to increase due to higher expected steer and heifer slaughter, which more than compensates for reduced cow slaughter. This trend continues into 2025 where beef production is again raised on similar grounds. However, beef imports for 2024 are reduced due to expected global competition, while exports are boosted by stronger than anticipated demand in key markets. There are no changes to beef trade forecasts for 2025.
In terms of pricing, cattle prices for 2024 are increased based on recent data and firm demand for
28 Leather International /
www.leathermag.com
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