From WoWWiki

An item that can be processed by a Trade Skill to be used in a recipe for useful items.

Example trade goods:

• Leather, most can be processed into better leathers.
• Cloth, can be processed into Bolts.
• Ore, can be processed into Bars.
• Dust, Essence & Shards, can be used for enchanting.
• Primals - TBC

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