Midweek activity in the US hide market was firm after a slow start to the week. Several sellers tried lowering their offer prices by $1 on fed steers which sparked demand. Shoe tanners in Asia have been active but bidding at price levels a few dollars lower than the offers. The number of bids and the volume of material is viewed positively for most sellers.
Automotive tanners in North America expect January to be a busy month of orders. Asian Tanners expect a slow month of orders due to tannery closures during the Chinese Lunar New Year. Some market players believe the demand may hold Heavy Native Steer (HNS) and Butt Branded Steer (BBS) prices close to steady levels. However, others believe the spread between these selections and the branded selections are too large which will lead to a softening in prices for HNS and BBS.
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