US Perspective - 14.10.14
14/10/2014
www.themaxfieldreport.com
Enquires from tanners picked up towards the second half of last week. However, with the majority of tanners harbouring thoughts that prices were under pressure and packers reluctant to concede to any appreciable discounts, popular opinion of the trade is that there may have been more business passed than booked.
We continue to hear rumours of special offers by several traders, while there are claims that even a couple of agents for some of the packers were pressing buyers for bids on certain selections. We are also hearing reports that some sellers were quietly attempting to conclude business at levels below the last reported levels on our price guide and asking buyers to keep quiet on these sales.
Although sellers in general made a strong effort to hold prices steady, we tend to believe several succumbed to lower ideas and we would call prices mixed, with BBS and HNS steady, HTS slightly lower and BS and CBS weaker.
We recognise sellers are struggling to lower asking prices as this tends to encourage buyers to lower their ideas. However, considering the popular opinion of the trade is that many sellers are trying to quietly trade at levels below the last reported trading levels, we suspect sellers may have to adjust their asking prices this coming week.
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