US Perspective—31.01.17
31/01/2017
www.themaxfieldreport.com
Most contacts in Asia are out of the office observing the Chinese New Year holiday. We did encounter a couple of sources who shared that they saw a handful of bids: however, with buyers looking for prices lower than the last established trading levels and packers unwilling to concede to lower ideas, business was not concluded.
We also encountered a couple of sellers sharing that they were able to conclude a couple of pieces of business with limited quantities at their last reported trading levels as tanners were walking out the door last night.
The consensus among members of the trade is that there have not been many hides changing hands this week. It certainly appears as if producers have sold enough or more than enough hides in the past two or three weeks to insist upon steady levels.
Elsewhere, we continue to hear reports that some producers of wet blue hides are claiming to have seen better enquires or interest this week. This is likely a result of buyers being unable to purchase wet-salted hides of their preference at levels they deem affordable, so they are looking to see if they can find some value in buying wet blue.
We find reports suggesting that many tanners before departing for the Chinese New Year holiday were evaluating prices of raw material; there are numerous “rumblings” that there was a decent number of leather orders still not concluded before the holiday break.
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