Market Update
US sellers were able to trade hides $0.50 – $0.75 higher on branded cows and heavy native steers. Sellers credited the lower hide production, as well as some activity from automotive, furniture and handbag tanners, as to why prices were able to move upward today. However, a few sellers noted the automotive tanner interest began to waver today after a few weeks of strong demand.
Australian hide material continues to be lower priced in comparison to the competing countries, but sellers have increased prices about $2 each week for the past three weeks. Sellers continue to see large demand from footwear tanners and others interested in lower-quality hides.
Luxury Leather Demand Weakens in Recent Weeks
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