The hide market remained relatively quiet through week ended Friday January 3, with limited activity taking place, according to market participants. Buyers pushed for lower-priced hides, but unfavorable currency conditions and dropping split prices added challenges to negotiations. The primary goal for sellers continued to be managing inventory levels effectively.
Several sellers reported an abundance of jumbo-weight hides available, but demand from buyers is focused on regular-weight hides, creating a mismatch in the market. With so many moving parts and uncertainties, sellers remained unsure about the direction hide prices will take in the near term.
USDA cured, wet blue hide export sales recap
US export hide sales decreased by 263.36% to -284,079 pieces in the week to December 26 from 173,901 pieces the week prior, while shipments decreased by 29.81% to 361,055 pieces from 514,411 pieces.
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