26 May 2022
After a long period of stability, it has been reported by several hide sellers that they have taken much lower prices from Italian tanners to maintain business. Some of the new business for the top weight hides has been concluded with reductions, with the caveat that similar price reductions will be needed for the next round of sales. News from TheSauerReport.
Cowhides are reported to be sold, but many are still awaiting shipment to China, freight delays and the slow opening of letters of credit are making some suppliers nervous that they may have to discount future sales to keep the current sales onboard.
It comes as no real surprise to report that abattoir prices are down again, reflecting the general negative feeling many hide suppliers are feeling at this time.
There is reported to be minimal communication with Chinese tanners, with their agents often reporting that tanners fail to respond to any offers being made. Those that do respond counter at bids that are unrealistic, at least for now.