Several US sellers reported receiving a flurry of bids from various leather sectors and hide tanners around the world, which was more activity than they had seen in several weeks, driven by a historically low price of hides and better-quality summertime hides available.

Multiple sellers reported that incoming bids were widespread in terms of origin, but tanners kept pushing for prices that were down by $0.50-4.00 per piece from last traded prices. This buying interest indicated that there is appetite from several leather sectors if hide prices are low.

One seller reported they expected to push customers to pay higher than last traded prices because of the number of bids received. But several other sellers reported they expected to push for flat prices because, despite firm demand, they did not want to push buyers to abandon their bids due to increased prices.

Leather furniture demand sluggish, at mercy of interest rates

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