Cattle Livestock inventories are at the lowest they have ever been (WTOP Radio) due to reduced demand for beef and cost of feed with the drought this year. Fewer cows mean less leather for the tanneries (U.S.A. cattle supply the bulk of the Chinese leather industry). What does that mean? Higher leather prices will be coming. B-Y and H&M take their primary increases in late June historically. I am betting there is going to be some upward pressure on leather prices and we will see them arrive this summer.

Of course, this is just speculation on my part.....