Hide market participants reported that a large volume of hides was traded by the end of the All-China Leather Exhibition (ACLE) that concluded on Wednesday September 4. Packers sold material flat to their last traded levels, which came with little buyer resistance and demand for large volumes.
Regular-weight heavy Texas steer (HTS) hides traded at $24.00 per piece on Thursday September 5, returning to the traded price level prior to the $21.50 per piece trade reported on Wednesday. Price fluctuations for HTS hides have been frequent over the past few months due to freight advantages and the variety of hide quality among sellers.
Several participants reported that Chinese tanners, particularly shoe tanners, held large volumes of hide inventory, which will need to be cleared by the time the new purchases are delivered or buyers will need to find more cold storage for material.
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