Summer madness is well and truly under way. Hides are in short supply and every hide is being traded at a loss. This situation is not confined to the UK or Ireland. There are reports of a similar situation all over Europe. Those packing groups that have opted to handle their own hides have been comparing the returns that they can achieve, versus the green market price, and they reckon that they are between €6 and €7 behind the market. However, they know that this is a distorted situation and realise that the market is the market and this cannot continue indefinitely.
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