Bulletin

A local trader confirms that the market remains difficult, although it has steadied in recent weeks, with prices having reached a level accepted from buyers.

The slowdown in the automotive business, and specifically the recent announcement made by a large German tanner, triggered a sharp drop in bovine salted hides prices.

After a lull in price declines and even some recovery throughout October and early November, the green hide prices went back to a downward trend in the second half of the current month.

The leather pipeline is coming to terms and adapting to the new situation in the automotive segment. This has meant losing the one successful segment that helped a good part of the hide production stay afloat, when other important outlets such as footwear and, to a lesser degree garment were weighing negatively on the overall demand.

The price of wet-blue TR1 has kept within the same range for the past 5-6 weeks.

Marisa Bircher, Argentina’s International Trade Secretary, said the country is close to signing a trade a deal with the U.S., which would simultaneously open beef imports to both countries.

The export sales of hides for the week ending November 22 were largely a carbon-copy of those of the previous week.

The Vice President of Economy Tareck El Aissami has said that from November 30 the government will occupy 21 slaughterhouses throughout the country, with the intention of curbing the increase in domestic beef prices.

The autumn procurement season, which finds in the months of October and November its busiest time is quickly heading towards its end.

Recent forecasts for the current and next farming year (ending September 2019), see a decline of most industry indicators.