Several hide buyers in various sectors of the leather market, particularly automotive and footwear, remain relatively inactive due to limited demand and bearish outlook in the near-term. Most of the time, tanners in these sectors only show interest if the material offered is at attractively low-price levels.
A few market players reported that automotive tanners are not expecting increases in hide purchases until April or May. This is because automotive tanners have sufficient inventory that was purchased at the end of 2023.
Buyers that are most active in the market are in the accessory, handbag and furniture upholstery sectors. Tanners in these sectors are interested in cow hide material at steady to current market price levels, or $0.50/piece to $1/piece higher than last traded levels for some selections.

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