Buyer activity was steady to $1 higher from last week in terms of volume and price. Buyers have stated their interest is due to timing of summer quality hides to be shipped around the footwear seasonal peak and anticipation that more leather orders may come during the time of delivery.
Governments in China have loosened up on their money lending which has allowed tanners to borrow with less complications than a few months prior. However, the energy saving policy in China will likely cause tanners to close their facilities a few days per week starting in July for a few months. The purpose is to decrease pollution, but this will slow hide tanning.
The European Union will soon shut for summer vacations and tanners plan on extending the time they will be closing the tannery. They estimate closures to be longer than four weeks. Wet blue business is very weak according to several US sellers.

U.S. Export Sales & Shipments for Week Ending June 22