US hide trading active on July 8, but market participants remain pessimistic

US hide trading active on July 8, but market participants remain pessimistic

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. 

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