
Kering announced it would cut its reliance on leather by 30 percent by 2028 and pursue alternatives. The article notes the European Commission has proposed excluding leather imports from its anti-deforestation law, with a public feedback period running to June 1.
A major luxury buyer shifting away from leather weakens long-term demand for hides, while the EU exclusion removes a compliance barrier for hide trade. Both factors are minor for feed-grade commodities.
After 1,905 past policy events, Soybeans moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.8%), and +0.2% over 20.
After 734 past policy events, Soybean Meal moved a median -0.2% over 5 sessions (46% higher; middle half -1.9% to +1.6%), and -0.4% over 20.
After 1,570 past policy events, Palm Oil moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.