Several hide market participants reported a slow start to the trading week on Tuesday October 1, driven by the Golden Week celebration in China and Japan.
Fastmarkets’ updated the hide price guide on Tuesday to reflect the seasonal weight change heading into the winter months. Sources reported that prices were unchanged from the day prior but the price per lb calculation changed because of the increase in weights.
During the winter months, hides increase in weight due to thicker hair and debris that is packed onto the hide. Trimming and fleshing the hide is typically not as close to the grain during the winter months as in the summer. The new weight ranges are depicted in the methodology.
The majority of hide buyers typically celebrate Golden Week from October 1-7, which, historically, slows hide trading. Many sellers speculated that the week may bring limited volume of sales.
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