Strong hide interest continues mid-week for the US hide market. With high volume of supply in the US while most competitors currently have low supply, US sellers are receiving high demand for product. Most bids are at current trading values, but depending on the location and container availability, some buyers have received material at discount. 

According to updated January figures from the Federal Reserve Economic Data (FRED), the rubber and plastic footwear Producer Price Index (PPI) dropped, 1 percent from the prior month. 

PPI is a measurement of changing selling prices over time. A higher PPI indicates consumers will pay more for the retail product whereas a lower PPI means they will pay less. During the pandemic it is reasonable to suggest that more consumers were staying at home, so their daily wear had adjusted to more casual and athletic styles. This style of footwear is typically made of rubber and plastics. Rubber and plastic footwear PPI…