Actually, Latigo leather is nearly how I got introduced to working leather. I needed a strop for a straight razor and found that all the good ones for sale are made from latigo. Being prohibitively expensive, I got to looking at making my own and found that Tandy had some and ended up buying some other stuff and made my own strop.
Long story shortened a bit, it can be argued that Latigo IS strop material. But then, the argument can be made that shell cordovan ($$$$$) is as well.