Trading in the US hide market had a quiet tone to wrap up the week ended Friday August 30, with hide prices trading sideways to last reported levels.
Several sellers stated their firm stance on holding prices steady, unwilling to accept lower prices, ahead of the All-China Leather Exhibition (ACLE) that will take place at the start of the next week.
A packer reported that some buyers continued to have difficulty making timely payments for previously purchased material due to a slow delivery of payment from the leather buyer to the tanner. But the packer said that the timeliness of the payments had improved in recent weeks compared with the weeks prior.
According to the Bureau of Economic Analysis, the personal consumption expenditures price index rose 0.2% in July from the month prior.
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