What happened this week: The show goes on and, as with the financial crisis, we are waiting week-by-week for the end. But there is no end. There are too many sellers still wanting or needing to sell hides and there is still a shortage of buyers to take them all. As we mentioned last week, if European tanners do decide to buy, they are cherry picking from the top-quality end and are laying most other options aside. This is understandable considering today’s price spreads.

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