Hide trading was minimal today following an active weekend. The one trade reported today was for heavy Texas Steers which were reported $1 lower than yesterday’s trade for packer material. Some sellers stated that they already sold well over a week’s worth of production. These sellers expect to have shorter offer lists this week compared to the last. Other sellers offered similar products but $1 less than the week prior of some branded items. Some sellers stated that even with the decease, offer prices remain above current market levels.
Strong hide demand from tanners and the strong purchase volumes indicate that tanners are receiving leather orders for leather upholstery, footwear and accessory. However, the footwear tanners in the market are trying to push prices lower for branded selections. Despite inflation, the property crisis in China and bearish economy in Europe, consumers continue to spend. Hide demand is outperforming supply.

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