After holding out for a few weeks, the pressure on the price of raw hides resulted in yet another down-tick, marking a new low in recent history. According to CICB, the average price of raw hides slid by 3% in week 21. For reference, the current price is around 7% below the average level which held for most of autumn and up to the end of January, and 13% below the peak reached at the end of February.

In the meantime, the news surrounding the fate of the giant beef processor, JBS, continue to be at the center of the interest of the meat/tanning industry and laymen alike, for its profound connections with the both the sectoral and political future of the country.

For more information on the Brazilian cattle market and for recent prices Sauer Report subscribers click here