On Friday November 1, the US hide market ended the week with some sellers settling on flat prices from last traded levels, while others passed on bids that were not raised to the increased prices that sellers were looking for.
The standoff between buyers and sellers was evident, with most sellers agreeing to flat prices, according to several market participants.
Buyers said that depressed prices for leather put a ceiling on what they could pay for hides, despite strong hide demand. Several buyers said they were not able to pay above last traded prices on most cow and steer hide selections.
Some sellers declined bids for some cow hides that did not meet those increased price levels, and they anticipate that negotiations will resume after the weekend, given the strong demand from furniture upholstery tanners for the material.
Actual slaughter by classification
Table 1
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