Steer hide trading was active today for Colorado Branded Steers (CBS) and Butt Branded Steers (BBS) with most weight classifications trading at steady to last traded levels, except for regular weight BBS trading down $1/piece for packer material.
More sellers reported today that trade volumes at the APLF in Hong Kong were moderate. Buyers were resistant to price increases but paid roughly $0.50/piece to $1/piece more, depending on the selection, for cow hides. These hide selections are not included on the US Hide Price Guide. The price increases were driven by firm demand from Chinese furniture tanners. A seller reported that the hides purchased were mainly intended for export to the manufacturing sector.
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Fastmarkets' research team...