Today’s Market
Again, little was reported today. This temporary reduction in slaughter is giving some supply side relief. However, the lower hide prices aren’t attracting demand because of the lack of leather orders. The limited reports are steady with the current, printed ranges.
[HIDE-SALES]
Mandated shelter in place orders have had a significant impact on the economy and one of the first sectors to slow down, or switch production efforts, has been the auto industry. On top of the minimal buying interest, the manufacturers have had to reassign their production focus. As COVID-19’s spread accelerated through the world, some of the factories, such as GM and Ford, had shut down auto production to focus on producing ventilators.
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