Chinese tanners began the week starting Monday January 20 by bidding down on steer hides, though prices appeared to stabilize as of Thursday January 23, according to market participants. Business activity remained limited, which was not unexpected with the Lunar New Year holiday approaching next week. Some sellers suggested they might accept slightly lower prices to clear incoming inventory, with bids for heavy native steer hides reported as low as $26 per piece and Colorado branded steer hides at $16.50 per piece. Market chatter also surfaced of deals between packers and customers to move volumes, as certain packers have struggled to sell all they need.

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