Market Report 19.12.2025
Osterhorn, Friday, 19.12.2025
The US $ in EURO: 1,1720
What happened this week
Also this week, there are no indications of an increased or growing demand for raw hides. Market activity has already slowed significantly, as most market participants have finalized their annual planning at an early stage, resulting in a very limited flow of information. The overall weak consumer climate continues to weigh on the market and is clearly reflected in the Christmas season, during which leather products have delivered only limited positive sales results. Consequently, new impulses or reliable market signals pointing towards a short-term recovery in demand remain absent. In addition, persistently low production levels among European premium automotive manufacturers are further burdening the leather sector, as significant volumes from the automotive segment are currently missing. Asian markets also remained quiet, with no serious buying interest observed, particularly from China. The outlook for the beginning of 2026 therefore remains subdued, as neither postponed projects nor concrete procurement plans are visible. At the same time, discussions around the upcoming fair in Milan have already started, coinciding with the Winter Olympic Games in Italy and negatively affected by extremely high hotel prices, limited availability, and an expected lower number of visitors, which is likely to result in reduced participation by market players. From a pricing perspective, the situation remains unchanged, as no reliable price references are available due to the absence of an active and transparent market.
The kill
Slaughtering levels remained relatively high during the pre-Christmas week, although without any further upward momentum. At the same time, increasing caution can be observed in the retail sector, as demand is largely focused on the Christmas business. It is assumed that the majority of Christmas-related meat purchases will be completed over the coming weekend. As a result, slaughtering activity in the following week is expected to be very limited due to the holidays, with slaughterhouses likely operating only on Monday and Tuesday and at reduced capacity. A return to more normal slaughtering levels is not expected before the second or third week of January, once retailers resume regular purchasing and inventories need to be replenished.
What do we expect
A reliable forecast for the coming days is largely unnecessary, as the Christmas and New Year holidays will lead to an almost complete standstill in market activity. The focus is therefore already shifting towards the second half of January. Leather tanneries are expected to operate at minimum production levels during January, as there is currently no justification for increasing output or building inventories. Uncertainty remains high, and further planning and investment decisions are likely to be postponed until the second half of January. By then, Asian market participants are also expected to define their purchasing needs and procurement strategies for raw materials, particularly with regard to the period following the New Year and Spring Festival. Another key aspect to monitor will be the financing conditions and the decisions taken by banks and credit insurers in the first quarter of 2026, as the ongoing industrial downturn has now reached decision-makers within these sectors. In closing, we wish all our business partners and market participants a peaceful Christmas season and hope that the coming two weeks can be used to reflect calmly on the current market situation without the pressure of day-to-day business and to develop fresh perspectives for the year ahead.
Price Table
| Type | Weight range | Avg. green weight | Salted weight | Avg. weight salted | Price per kg | Trend |
|---|---|---|---|---|---|---|
| Ox | Heifers | 15/24,5 kg | 22,0/23,5 kg | 13/22 kg | 20/21 kg | € 0,80 | weakish |
| 25/29,5 kg | 27,5/28,5 kg | 22/27 kg | 25/26 kg | € 0,60 | Stable | |
| Dairy cows | 15/24,5 kg | 22,5/23,5 kg | 13/22 kg | 20/21 kg | € 0,40 | Stable |
| 25/29,5 kg | 27,5/28,5 kg | 22/27 kg | 25/26 kg | € 0,50 | Stable | |
| 30/+ kg | 33,5/35,5 kg | 27/+ kg | 29/31 kg | € 0,50 | Stable | |
| Bulls | 25/29,5 kg | 27,5/28,5 kg | 22/27 kg | 25/26 kg | € 0,80 | weakish |
| 30/39,5 kg | 36,0/37,0 kg | 24/34 kg | 31/33 kg | € 0,80 | Pressure | |
| 40/+ kg | 45,0/48,0 kg | 34/+ kg | 38/40 kg | € 0,85 | Pressure | |
| Thirds | 15/+ kg | 25,0/27,5 kg | 13/+ kg | 24/26 kg | € 0,40 | Stable |
| Thirds bulls | 30/+ kg | 38,0/40,0 kg | 24/+ kg | 33/36 kg | € 0,45 | Stable |