US drought supports hide prices from Australia
29/08/2013
Hide prices have steadily improved since the start of the year, supported by increased demand from South-East Asian and Chinese tanners, where stocks are reportedly tight.
“There has been buoyant demand for leather for car upholstery, and this has supported prices of heavier hides,” said the companies in a statement.
Co-products of the meat – hides and skins, edible offal and rendered item such as tallow, and meat and bone meal – are estimated to be worth 20% to 40% of the animal’s value in recent months.
The co-product value for heavy steers for the past year has been around $200/head, while prime steers averaged $170/head and cows about $125/head, the companies said.
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