The US hide market remained relatively quiet on Wednesday August 21, and market sources reported limited activity, with only one trade heard during the day.

Medium-weight Colorado branded steer (CBS) hides were reported at $11.00 per piece, down from the previous trade at $12.00 per piece on Tuesday August 20.

Steady shoes sales may improve amid back-to-school shopping, potential interest rate cut
US consumers remained resilient in their shopping behavior for shoes in the summer, and Fastmarkets’ analysts expect that a possible ease in interest rates during the fall may drive retail sales up.

June’s Federal Reserve Economic Data (FRED) release pegged shoe sales at $2.97 billion, up by 6% from the June average in 2016-2019 but down by 6% from June 2023.

Retail shoe sales performance throughout 2024 tracked near 2016-2019 monthly averages, but inflation dampened consumer spending.

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