THE DAY AT A GLANCE
- Good interest again today
- Branded Steers $30.00
- Butts $34.00-35.00
- Natives $35.50-37.00
- Wenzhou’s footwear exports down 32.3%
- Brazil’s Minerva invests in US plant protein start-up
- Combined export sales 544,100
- Combined shipments 643,500
- Combined outstanding 4,507,500
- Today’s trend: Steers very firm
BRANDED STEERS
- Seasonal weights sold for $30.00.
BUTT BRANDED STEERS
- 62/64 lbs. sold for $34.00.
- 62/64 lbs. sold for $35.00.
- 72/74 lbs. sold for $37.00.
HEAVY NATIVE STEERS
- 62/64 lbs. sold for $35.50.
- 62/64 lb. selections sold for $36.00.
- 62/64 lbs. sold for $37.00.
- 72/74 lbs. sold for $42.00.
INDUSTRY NEWS
Wenzhou’s footwear exports down 32.3%
Wenzhou Net
Wenzhou Customs statistics show that from January to September this year, Wenzhou’s total import and export value was 158.94 billion yuan, an increase of 16.0% over the same period last year (the same below). Among them, exports were 138.47 billion yuan, an increase of 14.4%; imports were 20.47 billion yuan, an increase of 28.3%.
Exports of traditional categories, however, were down for the period: footwear, clothing and clothing accessories, luggage and similar containers decreased by 32.3%, 13.3%, and 30.5% respectively.
Brazil’s Minerva invests in US plant protein start-up
Brazil’s Minerva Foods is making its first investment through a newly-launched venture capital fund, targeting Clara Foods, a maker of plant-based protein ingredients. The information was reported by Just Food.
Minerva’s new fund, MF92 — an acronym of the company name and its founding date in 1992 — has invested $4 million in San Francisco-based Clara Foods. The company was founded by CEO Arturo Elizondo and David Anchel and produces animal-free proteins using fermentation technology, including a foamy egg white alternative for baking use. Clara Foods is a graduate of California’s IndieBio accelerator program raised a total of $30 million last year.
EXPORTS
Raw hide sales down 13%
Net sales of 417,100 pieces for the week ending October 22nd were down 13 percent from the previous week’s 480,700 and 30 percent from the prior 4-week average. Two weeks ago, sales were 379,800.
Destinations were:
| China | 334,000 |
| Korea | 51,400 |
| Mexico | 26,800 |
| Taiwan | 3,500 |
| Italy | 700 |
| Japan | 500 |
| India | 500 |
| Ethiopia | 100 |
| Canada | -300 |
Shipments of 457,600 pieces reported for the period were up 15 percent from the previous week’s 397,700 and 4 percent from the prior 4-week average. Two weeks ago, shipments were 447,900.
Wet blue sales down 23%
Total net sales of wet blues were 127,000, made up of 59,600 for the week ending October 22nd and 67,400 for 2021. Sales the previous week were 164,300, and two weeks ago, sales were 151,600.
Destinations were:
| Thailand | 45,600 |
| China | 30,400 |
| Vietnam | 9,500 |
| Taiwan | 9,300 |
| Mexico | 3,300 |
| India | 800 |
| Brazil | -200 |
| Italy | -39,100 |
Total shipments of wet blues from the previous week were 128,100, and two weeks ago, they were 186,700.
MARKET OBSERVATIONS
- Seller report interest remains good today and while a large volume is still from China, most countries are back in the market.
- Business for the week is expected to be better than last week.
- Sources report that customers in China are particularly interested in heavy Texas steers because they can then take out the natives and sell those at a profit due to the price gap between the two.
- Wet blue prices continue to be very low. Whereas the premium used to be about $17.00 above the cured price, wet blue prices are currently below cured hides by double digits.
FEDERALLY INSPECTED SLAUGHTER
| Today | 114,000 |
| Last week | 120,000 |
| Last year | 118,000 |
| Week to date | 464,000 |
| Last week | 480,000 |
| Last year | 465,000 |
Wednesday’s slaughter included 92,000 steers/heifers and 26,000 cows and bulls.
PRICES AT THE CLOSE OF TRADING TODAY
| SELECTION | WEIGHT | PER PC FOB | LAST WEEK | LAST YEAR |
| Heavy Texas Steers | 62-64 | $24.00–27.00 | $24.00–27.00 | $27.00–28.00 |
| Heavy Texas Steers (Heavy) | 74-76 | $29.00-30.00 | $28.00-29.00 | $33.50-34.50 |
| Branded Steers | 62-64 | $29.00–30.00 | $26.50–28.50 | $26.00–27.00 |
| Branded Steers (Heavy) | 74-76 | $26.00-27.00n | $26.00-27.00n | $32.00-33.00 |
| Colorado Steers | 62-64 | $29.00–30.00 | $26.50–28.50 | $26.00–27.00 |
| Butt Branded Steers | 62-64 | $34.00–35.00 | $33.00–34.00 | $36.00–36.50 |
| Butt Branded Steers (Heavy) | 74-76 | $36.00-37.00 | $33.00-34.00n | $41.00-42.00 |
| Heavy Native Steers | 62-64 | $35.50–37.00 | $35.00–36.00 | $39.00-40.00 |
| Heavy Native Steers (Heavy) | 74-76 | $39.00-42.00 | $39.00-42.00 | $43.00-44.00 |
| Heavy Native Heifers | 50-52 | $25.00-26.00n | $25.00-26.00n | $24.00-25.00 |
| Branded Heifers | 50-52 | $19.50–20.00 | $19.50–20.00 | $20.00–21.00 |
| Heavy Native Cows | 50-52 | $8.00-14.00 | $8.00-14.00 | $4.00-5.00 |
| Branded Cows | 50-52 | $5.00–8.00 | $5.00–8.00 | $0.00-1.00 |
| Holstein dairy cows | 50-52 | $20.00-22.00 | $20.00-22.00 | $15.00-16.00 |
| Native Bulls | 110-120 | $2.00-4.00n | $2.00-4.00n | $15.00-16.00 |
