Steer hide prices softened on Friday September 13, according to a few processors and traders. The price decreases were due to continuous and widespread downward pressure on prices by Chinese buyers, sources said. The sellers who traded at the decreased levels had building inventory from a slower week of hide trading during the week prior.

A few packers said they refused the lower bids because they held well-sold positions from sales during the All-China Leather Exhibition (ACLE). But a few sources reported hearing of material trading at discounted prices for regular buyers of a few packers.

Regular weight heavy native steer hides traded at $27 per piece, down $1 per piece from last reported levels; butt branded steer hides traded at $25 per piece, down $1.50 per piece; and Colorado branded steer (CBS) hides traded at $18.50 per piece, down $1.50 per piece. Jumbo weight CBS hides traded at $20 per piece, down $0.50 per piece.

…