Market Activity & Analysis

Last week there were some signs of improvement with the market as the pace of hide price descent began to slow from previous week’s levels. For the week, steer prices dropped $2 to $3 and the Jacobsen Hide Index (JHI) closed at $61.17 from $63.90 a week ago—down $2.73. The JHI is down $38.72 or 38.8% from a year ago. On a percentage basis, the drop for cow selections are close to the same from a year ago. A number of suppliers report…