Trading on Tuesday May 28 was quiet in the US hide market following the Memorial Day holiday, except for decreases for processor light and regular weight butt branded steers (BBS), sources told Fastmarkets.
Processor light weight BBS fell by $0.25 per piece to $18 per piece, and regular weight BBS fell by $1 per piece to $18 per piece.
The holiday pushed the releases of packer offer lists to Tuesday night and Wednesday May 29. Market participants reported minimal activity over the weekend of May 25-27 due to the holiday and lacking leather orders.
Market participants expected minimal changes in the next few weeks due to bleak market conditions on the horizon.
Several tanners reported high inventories and minimal leather orders. They had reported on several occasions over the past few weeks that they had little urgency to purchase new inventory.
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Cattle slaughter…
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