Apparel & Leather Goods Production and Clothing Sales Reach Record Highs in May

Apparel & Leather Goods Production and Clothing Sales Reach Record Highs in May

Cow hide trading was active today with Branded Cows trading $0.50-$1 higher. Processors have reported increased bids for cow and steer hides, both increaed prices and volume. Packers and traders continue to report resitance from from buyers to higher prices. Butt Branded Steers and Colorado Branded Steers were reported down $1, driven by sellers agreeing on a lower price to move material overseas. 

Apparel & Leather Goods Production and Clothing Sales Reach Record Highs in May

Pent-up consumer demand drove clothing sales and industrial production of apparel and leather goods to record high May figures. Federal Reserve Economic Data (FRED) reported May clothing sales at $26.2 billion and industrial production at 102.6 points-up from the 2016-2019 May average by 17 percent and 4 percent, respectively. As consumers return to brick-and-mortar stores and continue to shop online, clothing is expected to be the most demanded good. Mastercard’s monthly…

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