A few tanners paid up money on some popular steer selections today, indicating strong demand for steer material and well sold positions for sellers. Heavy native and butt branded steers traded $1 higher than yesterday’s levels.
Bidding activity was strong this week and most sellers reported that it was easier to achieve steady to current market prices levels and that some were willing to pay higher prices.
Chinese tanners have been more hesitant to pay higher since the inventories at the spot market are high and the devaluation of the Chinese Yuan versus the US Dollar makes hides more expensive to buy direct. However, Chinese tanners did accept the $1 higher levels on particular selections likely due to the better quality hides that will be shipped later this summer.

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