Packer Branded Steer (BRS) hides fell further today, dropping $0.50/piece from yesterday. Over the course of the week, BRS fell a total of $2 from last Friday’s close. The downturn for BRS and Colorado Branded Steers (CBS) are a result of weak leather demand from shoe tanners in China. The sellers’ willingness to drop steer prices brought in good volume of buyer interest for large volumes of material.
A few sellers reported that the week closed with larger volumes of steer hide sales compared to last week. Cow hide sellers reported this week had strong sales, mainly due to strong demand from furniture upholstery tanners, which is a continuing trend.
Some sellers expect ongoing negotiations on price to carry over the weekend.
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