Wet blue sales are stronger than cured hide sales in the current market due to their lower cost to produce, according to some sellers. Footwear tanners were the most active of the leather sectors in the wet blue buying market.

A processor bought bull hides at price levels lower than last traded levels; native bull hides traded down $1 per piece to $10.50 per piece and branded bull hides traded down $1.50 per piece to $9.50 per piece. The processor said that negotiating to buy the hides at the lower price levels was done with little seller resistance.

Several sellers stated that the near-term outlook of the hide and leather market was bearish given the low hide demand and the weak interest for leather goods.

Cured and wet blue export shipments by selected countries through July 11

Table 1

…