In a build last week Blizzard announced a very significant change to skinning that is likely to have some serious impact!
In 9.2 every player that tapped a skinnable mob will be allowed to skin it. This will make skinning similar to the other gathering professions in that nodes are no longer single use. This will obviously make it possible to farm leather at a significantly higher rate than currently and will have a huge impact on farming methods and prices.
Supply up means prices go down
Assuming that this will significantly increase the ability of players to generate callous hides and the other Shadowlands materials I expect prices to fall. When supply increases, prices always fall, but how much and when?
Due to the likely increased demand for leather as well due to new legendaries the exact price dynamics for 9.2 will be very hard to predict.
How much more efficient will we be?
That’s the million gold question. Obviously I assume players will find various 2×4 hyperspawn spots to very quickly spawn, kill and skin skinnable mobs. It’s possible Blizzard will make some changes to the drop rates of skins alongside this change or that they don’t. There’s also a very large question of how the drop rates of the old leather types will be in Zereth Mortis and where the popular farming spots will be.
No effect yet
So far the announcement has not had any effect on the EU region price. Presumably players are still stocking up for 9.2 and using whatever leather they can effectively use right now. If something happens we will have to wait for 9.2 to go live. I doubt the price will drop too much very early on, but anything can happen.