Hide market under pressure

Published:  18 July, 2017

July has seen the hide market under real downward pressure. Chinese buyers returned low bids to the offer lists that the big processors and U.S. hide dealers sent out.

Trade insiders reveal that during the U.S. Independence Day holiday on July 4, several European sellers were in China trying to shift a lot of unsold hides. The Chinese responded by bidding at $10 below the asking price. The European sellers countered with an offer of $1 back. The gap was too wide, with the Chinese not budging as they knew that the Americans were due in the country in mid-July.

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