Sellers reported minimal hide trading on Thursday May 9 due to difficulty agreeing on a price between buyers and sellers. Several sellers said current hide prices were at historically low levels and were resistant to lowering further. Several buyers said the lack of leather demand and the high hide inventories did not justify buying more material. Fastmarkets analysts expect that, in order to entice buyers, sellers will lower prices to make buying material attractive despite having no need for the inventory in the near-term.

Colorado branded steer hides were traded steady to the most recently traded levels, at $18.50 per piece, $19.50 per piece and $20 per piece respectively for light, regular and jumbo weight selections. Sellers expect to counter lower than current market bids on the night of May 9 and anticipate more closed trading the following day and into the weekend.

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