Weekly hide supply in the Eastern States is holding at more than 130,000 which is similar to March levels, but higher than would have been expected at this time of year, as we head into winter. Numbers will logically fall in the next few weeks.

According to a sector insider, from the top of the market in this cycle, around the middle of March, it took about six weeks before hide prices at the abattoir gate started to slowly adjust downwards. This is considered the normal time period due to old contracts and last-minute purchases being fulfilled with urgency to avoid cancellation/renegotiation.

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