June 8, 2021

Leather and Hide Weekly

 

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LHCA announced that its Annual Meeting and Convention will be held in Chicago this October, likely with a virtual component for those who cannot travel. Last year's meeting was held virtually due to restrictions imposed as a result of COVID-19. Plus, the U.S. announced it is suspending proposed tariffs on Italian leather imports, among other products, while the government continues to negotiate a resolution to the ongoing Digital Services Tax dispute. More on these and other topics below.

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Weekly Hides and Skins Stats 

  • Net sales of cured cattle hides reported for the period ending May 27, 2021, were 226,600 pieces and net sales of wet blue were 272,000 pieces. Reported shipments of cured hides were 418,900 and of wet blue were 208,900. China was the largest buyer of cured hides and Vietnam was the largest buyer of wet blue. See more. For historical data, click here. 
  • U.S. Cattle Slaughter was 538,000 last week, a decrease of 14.5 percent from the previous week. Total cattle slaughter in 2021 is 14,080,000 head, up 5.8 percent from the same period in 2020. See more.
  • USDA AMS Major Packer Hide Price Report provided prices for six types of U.S. hides at six price points with a spread of $20 for branded southwest cows to $54 for heavy native steers. See more.

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Industry Updates

  • Save the date! LHCA will hold its Annual Meeting and Convention October 13-15, 2021, in Chicago. As of now, the event is expected to take place in person, though LHCA plans to offer a virtual component for those who choose not to, or are unable to, travel. Additional event details are forthcoming. 
  • The U.S. government announced further suspension of punitive tariffs for six months on imports from India, Austria, Italy, Spain, Turkey and the United Kingdom while it works to resolve ongoing concerns related to the Digital Services Tax dispute. The U.S. reinforced its commitment to achieving a consensus on international taxation issues through the Organization for Economic Cooperation and Development and G20 processes. The U.S. suspended the tariffs, which would have hit Italian leather imports among other products, to provide time for negotiators to resolve outstanding taxation concerns, though U.S. Trade Representative Katherine Tai signaled her support for imposing tariffs if no such resolution is reached. LHCA earlier this year urged the U.S. government against imposing tariffs on leather imports given that many of these imports are manufactured using U.S. inputs, including hides and skins. LHCA argued tariffs on these imports would effectively be borne by U.S. raw materials suppliers.

Latest Updates from Real Leather. Stay Different.

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Our latest blog post introduces readers to GreenRoom, a Taipei-based company that continues to push design boundaries and challenge conventional wisdom through its production of handmade leather creations. The brand employs intricate hand stitching and three-dimensional design styles that showcase leather's distinctive texture. It's no surprise GreenRoom's works have garnered a loyal - and growing - customer base. Get the latest news from Real Leather. Stay Different. here. And, don't forget to:

 

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Other News

  • President Joe Biden recently unveiled his proposed budget for Fiscal Year 2022. The budget preserves full funding of USDA's market development programs, including the Market Access Program and the Foreign Market Development Program, as authorized by the 2018 Farm Bill. More details about the proposed USDA budget are available here. The Biden Administration also requested $58 million in funding for the Office of the U.S. Trade Representative. 
  • The 11 members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have agreed to permit the United Kingdom to initiate the accession process to join the pact. The UK is the first applicant outside the agreement's original signatories - Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam - to receive approval to join the trade bloc. CPTPP has entered into force for seven members, but Brunei, Chile, Malaysia and Peru have not yet ratified the agreement. More information is available here. The U.S. withdrew from the Trans-Pacific Partnership, CPTPP's predecessor, in 2017 following the inauguration of former President Donald Trump.

 

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Leather News

Each week, we will share relevant leather news below. Some of the articles may cover our products, and the industry, unfavorably, but we still believe it is important to share the different ways in which leather is presented in the media. If you find articles that you would like to see included, please send them to mschumpp@meatinstitute.org.