Market Activity & Analysis

The USDA export report today confirmed an upward spike of 15.55% in sales and 16.4% increase in shipments from last week with total cured and wet blue hides sales at 870,142 from 753,049 and shipments at 530,185 from 459,116 the week prior. While shipments remained below the same week slaughter at 613,000, sales exceeded it for the fourth time in six weeks. Sales activity for the last several weeks was widely reported to be better, prompting…