US hide trades that wrapped up from bids received last week were reported on Monday July 8; trading was active during the day, but several market participants held pessimistic views of the market.

An automotive hide tanner reported light- and regular-weight heavy native steers (HNS) trading at $28 per piece and $28.50 per piece respectively, which was flat for lightweight HNS but $3.50 per piece below the close on Friday June 5 for regular-weight HNS.

Other reports received were for regular-weight HNS at $27 per piece and regular-weight butt branded steers at $25 per piece, both flat from Friday’s close.

A few sellers reported a high level of claims being received for older hide contracts, as well as high inventories of finished leather at tanneries. 

…