US Perspective—01.04.14
01/04/2014
www.themaxfieldreport.com
The vast majority who travelled to Hong Kong prior to the APLF exhibition were not laying claims to enjoying selling huge volumes of hides; however, we can attest to the fact that many said they sold limited quantities, but in several different directions. At the end of the day, we are not aware of anyone who traveled that was disappointed with the prices they were able to obtain; however, we think a large number were a little surprised they did not sell more.
Popular opinion of the trade is that most producers will likely offer no worse than steady, while we did hear comments from some that they would not be surprised if some of the sellers did not try to raise their asking prices this week. In the meantime, we continue to hear rumblings about several producers who appear very focused on trying to sell wet blue hides. As mentioned previously in this report, we are of the opinion that there has been roughly 500,000 more wet blue produced than sold in the last couple of months. As of this writing, we are not aware of any distressed sales at levels substantially below what would be perceived as market value; however, it appears many members of the trade are of the opinion that the right buyer with money and the ability to take delivery may have some negotiating power.
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