Market Activity & Analysis

Downward pressure on the US hide market remained intact with prices from steady to down around $1 depending on selection. A few suppliers said they had a decent amount of interest, but many of the bids were too low as it seems buyers believe the declining trend will continue for some time. On Friday, the Jacobsen Hide Index closed at $61.81 from $62.01 a week ago. Big packer HNS sold from $71 to $72, BBS from $69 to $70, HTS from $63 to $64…