David Peters highlights four factors that need to change to make him optimistic
28/08/2018
In a new column, published in the blog section of the website and in the August 28 edition of Leatherbiz Weekly, Mr Peters said that this record-breaking statistic is not enough to make him optimistic about the direction in which the leather industry is headed. In fact, he said the high number of hides sold in that one week was more likely to be the result of “a dead-cat bounce”.
He said it will be difficult to maintain any positive momentum in the face of four negative conditions. The four areas he identified as sources of particular concern are the poor shoe leather business, tariff and trade wars, a strong dollar, and increased hide production.
“Until we see a change in these issues the bear market will be self-sustaining,” he concluded.
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