According to Meat and Livestock Australia (MLA), the country’s hide prices fell on average by around A$6 per piece in May, bringing the total average loss since January to $10 per hide.

The organisation cites a combination of macroeconomic factors including the slowdown in US car and furniture sales, the reluctance of buyers to visit China because of SARS and the continuing slide in the US dollar.  MLA said it expected prices to fall further in June and that a recovery in prices was unlikely until before the end of the northern summer season and the return to full production by the tanneries.

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