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
pieces. This decline was attributed to reduced demand from major buyers, including China, Korea and Thailand. By mid-September, however, raw hide sales began to pick up, increasing by 21% to 437,900 pieces as demand rebounded, particularly from China, which accounted for the bulk of purchases. In addition to the market movements, external factors also contributed to the volatility. Extreme weather, such as heat warnings across several states, added disruptions to logistical operations. Additionally, global unrest, with geopolitical tensions escalating in various regions, further compounded market uncertainties. The gap between sales and shipments pointed to potential future pricing shifts, as backlogs continued to affect market performance. Sellers and buyers alike navigated these complexities with caution. Wet blue sales followed a similar pattern of decline and recovery. In early August, sales dropped by 7% from the previous week, with net sales of 144,700 pieces. However, by September, wet blue sales surged by 128%, driven by demand from Vietnam, China, and other key markets. Despite this, overall wet blue sales remained lower compared to earlier in the year, and shipments lagged behind, indicating ongoing logistical challenges. Shipments in September averaged 114,675 pieces, down from the August average of 146,975, reflecting difficulties in moving products through the supply chain. In terms of exports, China continued to dominate as the largest buyer of US hides and wet blues. However, there was also notable demand from Vietnam, Thailand and Mexico. Despite these positive developments, the overall market faced challenges from fluctuating buyer interest and continued resistance to price increases, particularly in the wet blue segment. Sellers continued to adopt firm pricing strategies, which maintained some stability, but the gap between combined sales and shipments suggested that unresolved logistical issues could affect future market pricing. By the end of September, raw hide sales had risen
by 39%, with net sales of 416,800 pieces for the week ending 19 September. Wet blue sales also saw a 12% rise during this period, but the overall trend pointed to a market attempting to stabilise amid external pressures and logistical delays. Shipments of raw hides and wet blues remained behind sales figures, suggesting that the market still faced hurdles in meeting international demand in a timely manner. Sellers maintained firm pricing strategies despite the pressure from buyers, indicating cautious optimism for future recovery as the market navigated these ongoing challenges.
US cattle on feed up by 1% in August As of 1 August 2024, US feedlots with a capacity of 1,000 or more head had 11.1 million cattle on feed, reflecting a 1% increase from the same time last year. In July, 1.7 million cattle were placed in feedlots, a 6% rise from 2023, with net placements totalling 1.65 million.
16 Leather International /
www.leathermag.com
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