Activity in the US hide market for the week ended November 27 made clear that January shipments drove demand, with auto tanners aiming to secure material early to start the year with healthy buying activity and overseas tanners booking material ahead of the Lunar New Year closures and possible increasing tariffs. However, European auto tanners were largely inactive, contributing to a cautious market sentiment.
Hide market participants reported varied activity for Heavy Native Steer (HNS) hides, with offers ranging from $28-$31 per piece, depending on weight and quality. Trades were closed at $28-$29 per piece, depending on the weight.
Additionally, a significant influx of jumbo-weight hides pressed packers to move material quickly to avoid inventory buildups. HNS hides headed for Asian markets may experience further price pressure to ensure delivery before the Lunar New Year.
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