Hide trading was flat to last traded prices on Thursday November 7, with some sellers citing difficulty to achieve price increases and others telling Fastmarkets that buyers were not interested in buying during the week.
The Federal Reserve cut interest rates on Thursday, which added a positive outlook to the market suggesting a possible increase in consumer affordability leading to more leather goods spending.
Several sellers said that buyer bids were at “reasonable levels,” but some planned to counter for price increases on well-sold cow hides that continued to be in heavy demand from upholstery tanners. These sellers said that if the counter bids were refused, they would try again after the weekend.
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