The hide market had a mixed day of trading on Wednesday January 8, with buyers engaging more actively with traders than packers. Packers reported quiet feedback from buyers, while traders reported increased activity, especially from Mexican tanners, who reopened following the holidays. Mexico was notably more active than overseas markets, with some inquiries from auto tanners about US hides.
Lunar New Year preparations kept many Chinese tanners focused on shutdowns rather than new business, resulting in lowball bids. Dairy cow hide bids were down by $4 per piece according to one major packer, while general interest in dairy hides remained, with bids down by $1 per piece for a trader. Despite this, some sellers are holding firm on prices due to strong pre-sold positions.
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