Several market sources said negotiations are expected to continue into the weekend due to buyer resistance to pay steady to current market prices on a variety of hide selections. Trades closed on Friday April 19 steady to last traded levels or down $0.50/piece. Regular weight Butt Branded Steer hides and Colorado Branded Steer hides traded $0.50/down from yesterday’s levels. The decreases in hide prices were driven by insufficient leather orders for automotive, furniture, and footwear tanners.
An automotive tanner said leather orders expected to be received in May disappeared, and they do not expect to buy hides again until shipments for June. Overall hide demand from automotive tanners remains weak.
A few sellers reported delays in payments as well as hide shipments.
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