Midweek trading activity was minimal, but buyers and sellers continue to negotiate prices for a variety of hide material. Colorado Branded Steer (CBS) hides traded $0.50/piece lower than last reported levels for light and regular weight selections and $1/piece lower for the jumbo weight selection.
The price reductions were due to a seller’s urgency to move material to avoid building inventory and buyer’s lack of urgency to buy new material because of weak leather demand.
The most active buyers in the market were Chinese tanners, particularly in the upholstery and handbag sectors of the leather market. Chinese tanneries remain closed in celebration of Lunar New Year, but office personal remain actively working.
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