Market Update
The week ended with several sellers reporting a strong week of sales for wet blue and lower quality cured hides to large tanners in China. Several sellers said the amount of sales outperformed the week prior.
Price levels on material remained steady due to push back from tanners on price increases. Multiple tanners shared that the leather prices in the domestic Chinese market remain depressed which do not give support to raw hide price increases. Despite this, sellers continue to push for higher than current market price levels on some items due to the consistent demand.
Sellers have seen strong demand for Braded Steer and Butt Branded Steer hides through an increase in bids leading some to push their offer prices higher heading into the weekend.
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