US Perspective—07.09.10
07/09/2010
Courtesy of www.thejacobsen.com
There was some decent activity in terms of quantity reported at the end of last week, despite the fact that a lot of people were en route home from the All China Leather Exhibition in Shanghai or en route to their long weekend destinations for the Labor Day weekend in North America. There was a report of some decent traffic through the fair. Indications are that it may be next week before there is a clear market direction. Apparently, tanners were bidding below the packers’ ideas of value and the packers were in no hurry to sell at the low bidding prices. For now and for the most part the market remains steady.
In the US trading fell along the packer-processor line, that is packers have been reporting steady business with some increases and processor reports are weaker for the most part. Processor trading came in lower than previous trades on most selections. Overall, big packer activity was relatively quiet.
There were some lower trades reported on BBS and N HNC. In midweek HNH and HBH trading was up from earlier reports and more in line with previous trading.
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