For the third quarter of 2021, average shipments were 383,500, down just 1% from August and 15% lower than the same quarter in 2020. Looking at raw hides, September shipments averaged 369,725, down by 12% from the August average and 18% lower than September 2020. In the third quarter, weekly sales averaged 143,938, 16% higher than the second quarter average and 1.5% higher than the same quarter in 2020.Ĭombined shipments fluctuated but only exceeded slaughter a couple of times. September sales averaged 161,075 weekly, up by 37% from the August average and just 1.5% below the same month in 2020. Wet-blue sales picked up as footwear brands shifted production and then as Vietnam opened its factories. It was also the lowest third quarter average since at least 2013. For the third quarter, average weekly sales were 332,015, down 16% from the second quarter and 21% lower than the same quarter in 2020. This is up 27% from the August average and just 1% lower than September 2020. In September, weekly raw hide sales averaged 374,375. Weekly export sales picked up in late October as sellers managed to conclude good volumes with customers. Although cow prices fell back from their highs, demand was still decent and price levels relatively steady. The US cow market also declined, but again less dramatically than the steer sector, mainly because upholstery was still rather active. Automotive and upholstery hides were down but not by quite so much, even though auto leather demand was projected to remain weak through to the end of the year. Colorado steers fell along a similar trajectory but also seemed to be bottoming out at $29.00, while brand steers had managed a $32.00 price level. While it seemed prices might sink further, the uptick in interest levelled the price at $32.00. Trading in heavy Texas steers had dropped from a high of $56.50 down to $32.00. The good news was that as production in Vietnam and China began to ramp up again, hides destined for footwear started to regain their popularity among customers.
Finally, the start of November saw the first signs of possible stabilisation in the US hide market since it started sliding downwards at the start of August. After a late summer and early autumn plagued by Covid problems in Asia, Vietnam’s factory suspensions and an increasingly disrupted supply chain, the US market was struggling to find a floor for declining prices.
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