Interest is mainly from Chinese hide tanners who want to buy material at cheaper or steady to current market price levels. Most interest is for cowhides, but some steer hide bids are only $1-$1.50 lower than last traded levels. Sellers are confident buyers will come up to steady levels.
Other sellers reported higher availability of heavy native steers (HNS) on the market and not much buyer interest with automotive tanners reducing their weekly buys. HNS may be under negative price pressure in the near-term.
Chinese Footwear Tanners Active in Hide Market
Hide tanners within the footwear industry were actively buying in the US hide market over the past few weeks. Tanners continue to resist price increases and have held the cattlehide market at historical low-price levels despite the increase in demand.
The spring months are typically the slow season in hide buying for footwear and purchase volumes remain…
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Fastmarkets' research team...