Several market participants reported heavy bidding for hides on August 22. The market was optimistic about hide price improvements and demand due to the large export hide sales numbers released by the USDA, a larger willingness to pay flat-to-higher prices, a few upcoming leather shows that are expected to be well-attended and with the season for better-quality hides coming to an end in the next two months.
US export hide sales increased by 44.05% to 716,483 pieces in the week to August 15 from 497,381 pieces the week prior, while shipments decreased by 15.44% to 478,666 pieces from 566,049 pieces.
Total export sales for the 2024 marketing year were 17,597,308 pieces on August 15, almost all of which were cured hides.
The average year-to-date weekly trend for federally-inspected slaughter was 596,381 pieces. Export sales averaged 533,252 pieces, and export shipments averaged 513,099 pieces.
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