Activity in the hide market slowed on Tuesday December 24 as many prepared for the Christmas holiday the following day. However, market sentiment remains negative, driven by several factors impacting the global leather trade, according to market participants.

Chinese tanners expressed pessimism, with weak leather demand forecasts and the continued devaluation of the yuan against the US dollar weighing heavily on the market. Falling split prices further contributed to buyers pushing for lower hide prices.

Despite these pressures, Tuesday’s reports indicated that prices for heavy native steer and butt branded steer hides remained unchanged from their last reported levels.

As the holiday passes, market participants will be watching closely for any shifts in activity or sentiment heading into the new year.

Cured, wet blue export shipments by selected countries through December 12

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