Hide bids were “within reason” according to several market participants midweek, on Wednesday October 30. The bulk of demand was from buyers seeking out dairy steers and cows, of which suppliers reported a very limited supply available to sell. The interest to buy was from several leather sectors, including the Chinese and Korean automotive sectors and the Chinese and Mexican furniture upholstery and footwear sectors.

Strength in furniture market drives hide demand from tanners
The furniture upholstery sector of the global leather market showed recent strength in September and October, driven by optimism in the housing market and the availability of the best-quality hides of the summer and autumn months.

Federal Reserve Economic Data (FRED) recently reported September’s advanced furniture sales at $10.86 billion, down 5% from the year prior but up 10% from the 2017-2019 September average.

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