News : "America has no use for hides, so leather prices plunge" - this weeks LA Times.
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The glut of cowhides has caused prices to plummet, rendering many worthless. And just as the American love for meat has caught on around the globe, so too has the abandonment of leather, from clothing to car seats. Hides are even starting to go to landfills while the smaller leather processors are going out of business.
“There’s no one bidding, no one trying to buy them”
...a hide from a branded cow went for as little as $4 the week of July 15, down from as much as $81 just five years ago.
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Looks like the foreigners are yet to catch up with our "blame the syndicate" art. :V
https://www.latimes.com/business/story/2019-08-18/america-is-obsessed-with-beef-but-it-has-no-use-for-hides-so-leather-prices-plunge