The US hide market showed moderate activity on Wednesday December 18 as carryover business and monthly contract sales wrapped up, but the response to packer offer lists released on the night of Tuesday December 17 was notably quiet, with limited bidding. Market participants mentioned that packers, facing the need to move a significant amount of jumbo-weighted hides, had accepted lower prices to clear inventory.
With upcoming mid-week holidays, market activity is expected to slow further in the next few weeks, according to Fastmarket’ analysts. Chinese buyers have already shifted into holiday mode, showing less urgency to make purchases, while interested buyers in the market are primarily seeking good deals on hides.
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