Market Update
Heavy Native Steer (HNS), Butt Branded Steer (BBS) and Heavy Texas Steer (HTS) hides all traded down today from yesterday’s price levels. Light weight HNS hides fell $1/piece, regular-weight BBS and HTS hides fell $0.50/piece and $2/piece, respectively. Jumbo weight BBS hides fell $0.50/piece.
There were several reports of slowing demand from Chinese buyers, which started at the end of last week. Upholstery tanners remain the most active buyers in the market, looking for low quality hides, but their purchase and bidding volumes have declined significantly from weeks prior. A trader shared with The Jacobsen that leather prices and splits, for material intended for the upholstery sector, fell this week. Soak production is off 30-40% in comparison to four-six weeks ago.
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04.29.2024
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