The EUR has strengthened about 3% versus the USD these last days which hampers sales of European hides to Asia.
All in all we expect not much action for the rest of this month.
YEMEN - Prices for both wetsalted and drysalted hides have dropped by 10 cents per kilo.
GERMANY - Prices for heavy bull drop splits dropped from roughly 1,00 EUR/kg in January to the price level in the report today for December.
There is still some pressure in the market because of reduced demand for double butt splits. Therefore prices for drop splits should moderately go further down.
SPAIN/PORTUGAL - Today is bank holiday in Spain and in Portugal. Many players were closed yesterday as well to have a long weekend-
PAKISTAN - The Pakistan Mega Leather Show will be held from 27 to 29 January. With a view to the very disappointing export sales results of the leather industry in Pakistan this year, the country could definitely do with an event to boost its business.
UNITED STATES - After a relatively quiet week most prices have not changed from the end of last week. Those sellers who increased prices have seen only very limited business. It is thought that only a few tanners or traders in urgent need (to cover short sales) have been prepared to pay more. Many others are not. Most have covered their needs till the Chinese New Year and are waiting for new orders before buying more. Cow hide prices remain stable thanks to good demand from the upholstery sector.
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