Hide trading was minimal to start the week on Monday May 6, with multiple market participants expecting more trading later in the week after hide offers are released tonight and tomorrow.

A US seller said that most of their buyers held high inventories of rawhides, wet blue hides and finished leather, which led them to be disinterested in buying new material. The certainty regarding the near-term market also contributed to the recent lack of hide and leather demand. The seller said their demand for hides fell over the last three months, with each month decreasing from the month prior.

Several sellers lowered their hide offer and sale prices over the past three weeks. If weak hide demand continues, Fastmarkets analysts expect hide prices to drop further to entice hide buying activity.

Cattle slaughter forecast

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