The start of the hide trading week was quiet ahead of the APLF in Hong Kong where buyers and sellers look forward to negotiating business in person.
Several US traders, packers and processors are expected to attend the leather fair, as well as Asian tanners and designers.
Today there were several reports that sellers are in a well sold position on most hide material intended for footwear, handbag and furniture upholstery. The well sold position is expected by many in the market to boost nearby offer prices for Heavy Texas Steer, Heavy Dairy Steer, Branded Steer and various cow hides.
However, several buyers have stated they would be willing to trade at steady to current market levels, no higher. The justification is that, despite low cattle slaughter levels, leather prices remain depressed and do not support increased raw hide prices.
More trading activity is expected as the week progresses.

Cattle Slaughter Forecast