Many hide sellers continued to report that several bids received by Chinese buyers on Thursday September 12 were lower than last traded levels driven by a lack of urgency to buy new material, but some hides traded flat to higher than last traded levels.
Most sellers said they were content with their inventory positions following the good volume of sales at the All-China Leather Exhibition (ACLE) and did not need to sell at lower prices to move material. Most buyers said that their inventories of cured and wet blue hides were high and did not need to buy more material due to the limited amount of incoming leather orders.
A trader reported regular-weight Colorado branded steer hides at $20 per piece, which was $2 per piece above the market’s last traded level and $1 per piece above the trader’s last reported level. The price increase was driven by good interest for the selection from furniture upholstery tanners.
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