Today’s steer hide trading was at lower prices than the last reported trading levels as the material remains under pressure due to ongoing weak hide demand from footwear and automotive tanners. Regular weight Heavy Texas Steer (HTS) hides and Butt Branded Steer (BBS) hides traded $2/piece and $0.50/piece down from last reported levels.
Shoe tanners in China are relatively inactive from the US hide market while they are met with weak leather orders and are preparing for holiday closings for the Lunar New Year (LNY). The interest US sellers had received was for material offered at lower than current market price levels.
Automotive tanners also remained quiet due to LNY and minimal leather orders. According to a trader, tanners in Mexico have been relatively inactive in the US market and have purchased limited volume of hides for the past three to four weeks. The trader did not specify the quantity of loads sold over the time period.
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