Market participants reported several containers of hides were stuck at Chinese ports due to buyer resistance to pay for the delivered material. Several packer steer and heifer hides were traded on Wednesday July 10 at price levels that ranged above and below last traded levels.

A few sellers with material that was stopped at several ports in China reported that buyers filed claims in attempt to lower the previously agreed price levels at which the material had been traded. The ports with the most issues were reported to be in the Shanghai, Ningbo and Boosung provinces. Temperatures in Shanghai, China, averaged around 100°F (37.8°C) for the week ended July 10, which negatively impacted the quality of hides sitting in containers for long periods of time.

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