Downward Pressure on Steer Hide Prices

Downward Pressure on Steer Hide Prices

At mid-week there is buyer interest for hides, but bids are $3-$8 down. Tanners do not have urgency to buy so many buyers are trying to bring prices lower. Most packers are holding firm at current steer hide price levels. After the holiday weekend, business is still in negotiation, but the end of the week is expected to bring more concluded trades. 

Downward Pressure on Steer Hide Prices 

Labor shortages, shipping issues, limited supply on several goods, including microchips and worldwide government responses to the spreading Delta variant have contributed to the recent downward pressure on hide prices. The leather goods industry, such as footwear, automotive and furniture sectors, have lost some of the demand that was regained following the market collapse in early 2020, due to the pandemic in 2020. Logistical issues have caused severe port backups, leaving sellers and hide tanners with order cancellations and delays of finished goods. The result was a…

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