The price of cowhide rose slightly, but still hovered at the historical low point
Source：Dongguan Honghao New Material Technology Co., Ltd.
As economic uncertainty continues to weigh on the market, leather prices in the UK remain at historic lows. Nevertheless, in the past few weeks, the price of cowhide has increased slightly.
According to the Sauer report, with the growth of trade in upholstery leather and small leather products, the increase in domestic demand in China helps stabilize the price of raw leather. The report also shows that market demand in some regions has exceeded supply due to lower than normal slaughter rates in many countries.
It is reported that recently tanners have come under some pressure to bear the high prices they have paid for their hides. The tanners would point out that if they were to report a slowdown in profits, the market would stop rising. This is particularly true for tanners in the rest of the world, who have to bear the high price paid for hides without improving domestic demand.
From January to August this year, the value of British raw leather exports fell by 25% compared with the same period last year, although the export volume decreased by only 5%. This shows that the global market demand is still weak, buyers can still buy higher quality raw leather at a lower price. As the global demand for leather continues to decline, the value of British leather exports has been declining in recent years.
It is reported that the demand for sheepskin is still very small and the price has not changed.