Market Activity & Analysis

The velocity of downward momentum in the US hide market seemed to slow down this week with steer hides trading from steady to a $1 lower and cows $1-$2 lower. On the demand side, there has been no major changes one way or the other although buyers remained moderately active finding more resistance to lower bids depending on selection and supplier positions. Some say the market found a bottom but there are still many doubters who believe it…