The US hide market was concerned with the slowing demand from European customers in anticipation of their summer shutdowns, but it was relatively unconcerned with the spread of the Avian Influenza Virus (H5N1), according to several market participants.

Hide sellers prepared their offer lists on June 3 for material to be sold and shipped to Europe ahead of their annual summer closures. Typically, European tanners shut down for the entire month of August, but if business is slow, they take extended closures beginning in mid-July. US sellers anticipated that tanners will take extended closures in 2024, so they will plan their shipments to be delivered before the closures and sales would need to wrap up before the end of June 14 to have enough shipping time.

…