Market Update 

Hide trading was steady to higher for hides at midweek. Negotiations are ongoing with most buyers, but buyers have increased their bids to current market levels. Sellers plan to counter to increase business another $0.50. Some sellers reported strong volume of bids on cows and some customers bid on material that wasn’t offered by the sellers.
Heavy native steers traded sideways and butt branded steers traded up $1 from yesterday’s levels.
Chinese customers continue to face challenges surround the Chinese Yuan devaluation against the US Dollar and dropping split prices in the Chinese market.

Risk for Slower Nearby Hide Demand into Shoe Sector

Footwear retail sales continue to track close to 2022 levels, but brands and hide sellers expect sales to decline in the near-term due to declining consumer spending. Federal…