Hide trading was limited on Monday July 29, with little interest despite historically low prices.

A source told Fastmarkets that several Chinese footwear tanners were discussing closing for the second half of the year of 2024 due to a lack of leather demand.

A few market participant reported minimal demand from upholstery tanners due to an oversupply of competitive material offered at low prices from South American, Australia and Europe.

Packer offer lists are expected to be released on July 29 and Tuesday July 30.

Cattle slaughter forecast
Fastmarkets research team forecast cattle slaughter at 610,000 head in the week to August 3, up by 1.67% week on week but down by 0.86% year on year.

Cattle slaughter finished the week to Saturday July 27 at an estimated 600,000 head, up by 2.74% week on week and down by 2.57% year on year.

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