Bullish on leather
If I were paid in cow hides, I would need a shipping container for my monthly salary.
The leather industry doesn't really contribute to greenhouse gas emissions because the high-margin product in the cow industry is actually the meat. Don't feel too bad the next time you buy some leather shoes, because you've probably saved the skin of a beef cattle from going to waste.[1]
The proof is here. Bulk salted cow hides are worth next to nothing, and can be purchased for about 25 to 50 cents each.[2] Value is added during the processing and tanning.[3] Considering that a beef steer will sell for at least $1,500 USD, only ~0.02% of the value of the cow is in its hide.
