Hide trading was minimal on Tuesday June 11, but several customers in China discussed an expected increase in buying activity in the third quarter, according to several US hide sellers.

Regular-weight heavy native steer (HNS) hides traded down by $1 per piece to $28 per piece, and regular-weight heavy Texas steer (HTS) hides traded up by $3 per piece to $24 per piece. The latter trade was disclosed by a seller that has been typically reporting HTS trades at $24.00-24.50 per piece on a weekly or bi-weekly basis for the past several weeks.

Several Chinese buyers were pessimistic about the near-term market, expecting minimal improvements due to a lack of leather orders and high inventories of cured and wet blue hides. A source reported that production at most Chinese tanners was running 50% lower than in 2023. However, some anticipated demand and price improvements amid decreasing interest rates and greater affordability.

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