Participants in the US hide market believed that some sellers released shorter-than-usual offer lists on Tuesday May 28 and Wednesday May 29 as an attempt to signal well-sold positions; meanwhile, several other sellers reported large volumes of inventories at warehouses.

Several market participants reported little urgency to buy due to high inventories and minimal leather orders.

A few market participants discussed rumors of large volumes of cured and wet blue hides being sold into China at prices several dollars lower than the most recent trades.

A seller reported accepting a lower price for branded cow hides on Tuesday; the customer that bought them returned for more material, and the sale got around to other buyers, which brought in another bid for branded cows at the traded price.

Cured and wet blue export shipments by selected countries through May 16

Table 1

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