Market Activity & Analysis

The US hide market continues to be sluggish with prices down around 10% since the Hong Kong leather fair in late March. For example, when the show began on March 29, packer Heavy Native Steers traded at $77 and were last reported trading at $67.50 to $68. Butt Branded Steers went from $72.50 to $66 last week and Heavy Texas Steers from $68.50 to $62 FOB plant. This week, early offerings are showing similar to last week with volumes of hides…