Several sellers reported that a short list of hide offers would be released late on Tuesday December 31, but interest from Chinese buyers had already been received. Bids had been fair, neither overly aggressive nor too low, reflecting a balanced market dynamic, sources said. However, the supply outlook remains tight, with a market participants expecting a reduction in hide availability in 2025.

Packers maintained firm pricing due to stable supply levels, but weak and unchanging leather prices continue to limit their flexibility. Sellers expect prices to remain flat until after the Lunar New Year, with minimal movement in the near term.

While some bids from China were on the lower side, others indicated a willingness to meet market expectations. Despite New Year’s celebrations, market participants expect to remain active on Wednesday January 1, ensuring continued trading momentum.

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