Market Activity & Analysis

Last week, the US hide market was sluggish with prices back $1 to $2 depending on selection and the Jacobsen Hide Index on Friday closing at $60.81 from $61.75 a week ago. A few big packers lowered their asking prices to more closely align with recent trading levels and many bids were aggressive to the downside with some reported $5, $6 and $7 below previous sales. Big packer BBS traded for $68 to $70, HNS from $72 to $73 and HTS at $62–most…