Hide sellers reported a slow start to the trading week with low demand. A few packers stated they plan to have similar offer lists as last week, in terms of length and items offered. Several sellers shared they plan to only accept bids steady or higher than current market levels on most selections, except Butt Branded Steer (BBS) hides. BBS hides are under negative pressure because the demand is weak from shoe and automotive tanners, currently. A few buyers and sellers stated they are expecting BBS prices to fall by the end of the week.
Sellers have seen strong demand for cow hides for several weeks so they will try for higher than current market price levels again this week. Tanners continue to resist price increases because leather prices remain depressed.
Cured and Wet Blue Export Shipments by Selected Countries — Through March 14
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Fastmarkets' research team...