Steer hide prices were unchanged today from the last traded levels despite the growing concerns of COVID-19 disruptions. Buyers are wary of the challenges the virus will cause with production, labor and demand for finished product. Negotiations between buyers and sellers continue for several items, but the consensus is that buyers are bearish on the market. However, auto tanners remain active in the market for leather orders and continue to exhibit strong demand. The global need for new cars continues to push demand for material, but the bottlenecks remain due to the chip shortage and COVID-19 outbreaks slowing the supply chain. Currently, buyers in Korea are the most active bidders in the market, but further slowdown is expected heading into next week.

U.S. Export Sales & Shipments for Week Ending January 6

…

Membership is required to view the rest of this post.
Click here to learn more and sign up for a free 7-day trial!