Originally Posted by jumanji321
It's called tallow and you just need to rub it back in. All high quality saddles have it.
Sorry, jumanji, but it's just wax. All new hides are coated, to a greater or lesser degree, to keep them from drying out (or absorbing unwanted moisture) while they're in storage. There is a lot on this saddle, but it's not unusual.
Unless you scrub it with really hot water it's not that easy to get it all off so the best thing is usually not to worry about any that's not visible, but when cleaning wipe the flaps with water as hot as you can stand (instead of lukewarm) before soaping. It'll wear off over time.
For info, tallow is rendered beef fat, from around the kidneys if memory serves. It's not as hard as wax and they used to mix it with a little (more expensive) beeswax to make tallow candles. Though they were cheap they used to splutter, apparently. Tallow's good for stopping saddles squeaking if you can get it into the problem spot