Demand to Low to Overcome Hides From Large Kills

Demand to Low to Overcome Hides From Large Kills

It appears that there was not enough demand this week to overcome the wave of hides coming from the large kills prompted by very positive packer margins. Prices this week slipped $1 to $2 on most trading with volume reported to be less than a week’s worth of production. It should be noted that a reporting issue for last week’s export sales and shipment numbers could inflate this week’s numbers on the USDA export report next Thursday if any missed numbers are carried over. In a falling market, pinpointing prices is a moving target and this week was no exception which saw prices changing as the week progressed. Packer HNS, for instance, sold for $67 at the beginning of the week and slipped to $65 toward the end, BBS went from $64 to $62, and HTS from $61 to $60 FOB plant—and there are some unconfirmed reports with much wider ranges. Several people noted that the lack of volume sales made it difficult to get a good feel for prices on some selections.

Week-Ending Slaughter

The week’s estimated cattle slaughter was 637,000. The previous week’s kill was 546,000 and the corresponding week last year it was 598,164. Year-to-date slaughter at 16,678,862 is up 5.2% from 2016.

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