Extracts from the Hidenet World Reports

Argentina

In 2023, the country exported a record 682,000t of meat. Experts said that this year, however, it’s possible that uncertainty will slow down Argentine livestock farming. The 2023 total is 7.7% higher than the 633,000t exported in 2022.

Australia

After a stable end to 2023, wet-blue ox prices slipped in January. Grade A selections at 23–27kg were down $3.00 at US$45.00 per piece, and selections at 18–23kg slumped by $2.00 to sell at $38.00.

Beef exports jumped 27% in 2023, hitting a five-year high at more than 1.08 million tonnes, according to the Department of Agriculture and Beef Central. The total was up by more than 227,000t or 27% over 2022, which had marked a 19-year low. Q4 saw a surge in beef production even though December exports are typically low due to holidays.

Bangladesh

The government decided to phase out cash incentives or subsidies for the export of goods, including in the leather sector. Cash assistance will be reduced by up to 10% in the first phase and exporters fear competitiveness will decline. The new policy was effective 1 January and is related to Bangladesh being recategorised as a developing country in 2026 from its Least Developed Country (LDC) status, which means it cannot provide export incentives or cash assistance.

At the same time, the Bangladesh government issued eight directives to develop the leather industry up to international standards and achieve the export target of US$12.5bn by 2030.

Benelux

Wider market pressure had pushed Benelux bull prices lower at the end of 2023, but 2024 started with stable levels. Weights of 30–39kg were unchanged at €1.00 per kilo. Selections weighing 40–49kg were also steady, selling at €1.05 per kilo. Prices are for delivery to northern Italian tanneries on a 30-day payment plan.

Brazil

Brazilian raw material prices maintained their months-long unchanged levels with the average price of fresh hides at R$0.85 per kilo. The reference price of TR1 was likewise unchanged through mid-February at US$0.65.

Brazil’s December hide and skin exports totalled US$96.1m, increases of 7.7% over the previous month, and 15.5% over the same month last year, when US$83.2m were exported. The data was presented by SECEX (Secretariat of Foreign Trade) of the Ministry of Development, Industry, Commerce and Services and analysed by CICB,

In volume, 14.5 million square metres and 41,500t were exported, respectively, increases of 33.2% and 36.2% over the same month in 2022. Compared to November, the increases were 9.2% in area and 12.8% in weight. The full-year result totalled US$1.12bn, 8.3% below 2022, but higher by 13.0% in area and 21.5% in weight.

Chile

Chilean wet-blue prices were steady but under pressure at the start of 2024. TR1, full substance 16mm+ was still selling at US$0.75 per square foot.

China

China’s November imports of raw hides under 16kg totalled 98.383 million kilos overall, just 1.5% higher than in October. In terms of pieces, the increase was 0.8%, and in value, 3.5%. Rawhide imports from the US totalled 1.347 million pieces in November, which is 6% more than in October, but still below September’s total. Purchases from the US accounted for 44% of China’s total rawhide imports in value and 40% in pieces.

China’s total wet-blue purchases in November were up significantly compared to the previous month. In terms of kilos, the increase was 20%, and in value, 25%. On the other hand, imports of wet-blue from the US were higher in November after trending downward since August. In kilos, total purchases were down by 18% and in value, by 17.5%. Purchases from the US accounted for 20% of China’s total November wet-blue imports.

Colombia

Colombia’s raw material market was unchanged at the start of the year. Salted hides weighing 26–28kg were steady at US$0.40 per kilo, while those at 30–32kg were selling for US$0.50/kg. Wet-blue TR1/TR2 20/22mm+ was also unchanged at US$0.42 per square foot.

Colombia’s production and marketing of leather goods fell by 11.9%, while the sales index contracted by 14.1% in the first ten months of 2023. Still, bags, briefcases and travel accessories remain the best-selling products, accounting for 80% of the market, followed by clothing and clothing accessories. Leather goods exports were also lower, dropping by 4% to $43.7m.

Finland

After dropping in November, Finnish cow hide prices stabilised. Trading was reported at a steady €1.10/kg for hides delivered to northern Italian tanneries. Bulls succumbed to the lower price trend throughout Europe. Average green weights of 34kg and up sold €0.10–0.20 lower at €1.30–1.40 per kilo.

France

While the best selections can still get high prices, French veal skins are off the high levels reached in the past year. French black/white selections weighing 8–12kg, were down at €5.00–5.50 and those over 13kg were at €6.00–6.50. The price for 13kg+ luxury selections was lower at €6.80–7.20. The 8–12kg luxury selections were also lower at €5.00– 5.50. Prices are per kilogram, delivered to northern Italian tanneries on a 30-day payment plan.

Cow prices in Europe were on the decline in late 2023 and early 2024. Central French 32kg+ were €0.10 lower at €0.80–0.85. Lighter selections under 32kg were similarly down at €0.70–0.75. French Bretagne 32kg and under was €0.05–0.10 lower, selling at €0.80/kg. The 32kg+ selection was also down, selling at €0.95–1.10.

The French bull market was still grappling with a lack of automotive programming and poor furniture orders. French Bretagne selections 37kg+ were €0.05–0.10 lower than our last report, selling at €1.30–1.35. The under-37kg selection was a little weaker at €1.20–1.30. Among central French hides, the 37kg+ was €0.10 lower at €1.15–1.20 as was the 37kg and under category at €0.95–1.00. Sales in Asia during the early weeks of the year were a welcome outlet for hides that faced weak demand in Europe.

Germany

German cow hide prices were on the decline in late 2023. By mid-February 2024 they were weakly steady with 25kg+ north German cows were selling at €0.60– 0.63/kg. Lighter weights of 15–24kg were also a little lower at €0.68–0.70. Cow hide prices in southern Germany were also a touch weaker: 40kg+ selections sold for €0.95–0.98/kg. The 30–39kg selections were lower too, selling at €0.75–0.80.

German heifer prices were unchanged in February. North German 25kg+ were stable at €0.85/ kg and the price was still €0.95 for the 15–24kg from the same region. South German heifers, however, again saw declines. The 40kg+ were lower at €1.10, but the 30–39kg selection was stable at €1.05.

German bull prices lost ground in late 2023 but were at least weakly steady in February 2024. North German bull selections at 40.0–49.0kg were selling for €0.95/kg. South German bulls were also lower at €1.25–1.30 for the 40–49kg selections.

Greece

After rising in the last quarter of 2023, the price of lamb and sheep skins from Greece were unchanged in early 2024. Sales of lamb skins (70/20/10) were stable at $120.00–140.00 per dozen, pickled. Lambskins (C2) were also steady, selling for $40.00 to $50.00 per dozen, pickled.

India

India’s buffalo market prices were stable through the end of 2023, but in January slipped a little lower. Crust 1.4–1.6mm was trading at $0.50–0.55 per square foot. Crust 0.9–1.1mm was also $0.05 lower at $0.40–0.45.

To boost the Make in India programme, the government is considering a proposal to eliminate the Inverted Duty Structure and correct duties, which are making the Indian manufacturing sector less competitive globally. The move comes after industry feedback indicates Indian manufacturers are facing duty anomalies because of free trade agreements (FTAs). India’s leather sector, which has immense potential, is facing high duties on imports of key components like filling materials, toe caps, heels, soles and wet-blue crust chrome, tanned and valueadded leather. Leather exports fell year-on-year by about 12% to $3.25bn in April–December 2023.

Iran

After Iranian markets dropped in November, prices were stable through February 2024. Mutton skins (AB) were unchanged at $100.00 per dozen, pickled. Super mutton skins were steady, selling for $40.00. Prices on medium goat skins were also steady at $12.00–15.00.

Italy

Italian cow prices dropped in the last quarter of 2023 and were softly steady in mid-February. Prices were at €0.50–0.55kg. Italian bulls remained steady through the early weeks of 2024, selling at €0.95– 1.00 for 40kg and up average green weight.

After being stable through the end of 2023, Italian veal prices slid from their highs in January. The 18kg+ skins were down by €0.50–0.70, selling at €4.00–4.30/kg. Selections under 18kg were sharply lower at €3.00–3.80/kg.

Netherlands

Dutch vealskin prices also dropped with the rest of the European origins. The 12.5kg selections were €0.30 lower at €4.00–4.50. Skins at 16.5kg took less of a hit, dropping by just €0.10–0.20, selling at €5.00–5.50. Dutch cow hides were again a little weaker, selling at €0.60–0.62 per kilo. All prices quoted are on material delivered to northern Italian tanneries on a 30-day payment schedule.

New Zealand

Some New Zealand market prices were stable. Wet-blue ox, selection 70/30%, 20–24kg, was down $1.00 at US$42.00 per piece. Heavier 27kg+ lost $4.00, dropping to $60.00. Wet-blue heifers were $1.00 lower at $42.00 for the 18–23kg selection. Wet-blue cows, selection 70/30%, also dropped $1.00 at $23.00 for 14–18kg.

Nigeria

Nigerian raw material remained unchanged. Cross lamb A was still stable at €2.70/ft2 crust. ABC goat skins were likewise unchanged at €1.50/ft2.

Norway

After declining in late 2023, Norwegian cow prices remained soft in January and February. Seasonal weight selections were down €0.05 more since our last report, selling for €1.60. Norwegian bulls were €0.10 lower, with the 34kg and up average green weight selections trading at €1.80/kg.

Pakistan

Pakistan’s buffalo prices were stable through the early weeks of 2024. Sales were at $0.55 for crust, 1.3–1.5mm.

Poland

After falling in November, Polish cow prices stabilised and remained steady through mid-February. Selections weighing 26/27kg sold at €0.60. On the other hand, bull prices were dragged lower by the general market, with 40kg selections selling for €1.10, which is €0.10 less.

South Africa

African markets started 2024 in stable positions. Top-quality South African lamb was unchanged at $330.00–340.00 per dozen.

Lamb HS1 was steady at $250.00 per dozen and lamb HS2 was also flat at $190.00 to $200.00. Prices for lamb TRA remained at $140.00 and those for lamb TRB at $100.00.

Spain

In mid-February, the sheepskin market was static and sales were at a standstill in terms of raw materials because production slowed down compared to the rhythms of early February. Still, prices for lamb and sheepskin were steady although pressure loomed for the upcoming session of Lineapelle. Spanish entrefino for nappa was stable at €15.00– 16.50. Entrefino doubleface was unchanged at €12.00–12.50. Double face merino prices were steady at €12.00–14.00. The lachaune selection was also unchanged at €5.00–5.50. Prices are ranged to reflect the different regions in Spain, from lower end to top end quality. They are quoted on an FOB origin basis, per piece (5.5–7ft range, 6.5ft average).

Spanish cow prices were softer in early 2024, selling for €0.65–0.70 per kilo. Prices for bulls 40kg and up average green weight were again weaker, selling at €0.90.

Sweden

After dropping significantly in the last quarter of 2023, Swedish cow prices softened a little further in January to sell for €1.15–1.20 per kilo. Bull prices dropped by another €0.10–0.20 with 34kg and up average green weight selections selling for €1.40–1.50.

Turkey

Turkish raw materials remained relatively stable in 2024. Bulls were selling at US$0.95–1.00/kg while cows were $0.05 lower at $0.65–0.70/kg. The market was slow in January/February with less demand from tanners and still almost no buyers for lower-grade sheep or nappa. On the other hand, slaughter was very low as well, which helped keep prices in balance.

In 2023 all leather products exports decreased by 9.5% compared with 2022. The most significant reason for the decrease was because of the EU: leather product exports to the EU decreased by 14.5% compared to 2022.

Wet-blue and finished leather exports played an important role in this decline, with exports dropping by 22% compared to 2022. The top importer, India, decreased by 27%, and exports to the second biggest importer, Italy, decreased by 62% compared to 2022.

UK

English prices were a little softer in 2024. The UK 36kg+ ox was at £0.84–0.85/kg.

US

US steer selections remained under pressure from weak demand. Heavy Texas steers slipped and then stabilised, selling at $22.00 for seasonal weights. The US cow market was still enjoying good interest in mid-February and prices were mainly steady.

While US pork exports hit a value record in 2023, according to year-end data released by USDA and compiled by the US Meat Export Federation (USMEF), 2023 beef exports were below the record totals posted the previous year. December exports of US beef were down 4% year-over-year but the largest since August.

Export value was also the highest since August, up by 10% year-over-year. 2023 beef exports totalled 1.29 million mt, down 12% from the 2022 record. Experts noted that 2023 was a challenging year for US beef exports, mainly because of the largest Asian markets where economic conditions have weighed on food service demand.