Market Activity & Analysis

The hide market continued to adjust downward last week with prices $1 or $2 lower on most selections. Big packer Heavy Texas Steer sold from $89 to $91 C&F and the Jacobsen Hide Index closed $2.02 lower than a week ago at $83.07. Sentiment remained bearish going into the weekend for all but a few people; however, there is a glimmer of optimism that the market should start to level out soon.

Exacerbating the pressure on the hide…