The Jacobsen Hide Index closed at $18.19 on Friday, compared to $17.36 the week prior. Big packer steer prices included Heavy Native Steers from $30, Butt Branded Steers from $25.50 to $28, Branded Steers at $18, and Colorado Branded Steers at $16 and Heavy Texas Steers at $20 FOB plant.
Packer beef margins on Hedgers Edge were a positive $360.99 per head versus a positive $366.52 the week before.
The Week’s Slaughter Forecast
The Jacobsen slaughter forecast for this week is 645,000 head, and if realized, will be 15,900 head less than the same week last year when it was 660,900.
Cattle slaughter finished last week 574,000 head, down 9.8 percent from a year ago. Over the next six weeks, slaughter is forecast at an average of 633,300 head, up an average of 0.4 percent from the prior six weeks and down 2.2 percent compared to last year.
Today’s Market
Friday’s hide index close outperformed the previous week’s pricing, as the higher prices are relative to the increased demand. Indications early in the week are for a slowdown in what has been strong demand, a move that could put a ceiling on nearby prices.
HNH 48/50 @ $17.00 OR 0.2700
HNH 48/50 @ $12.00 OR 0.1900
Figures 2 & 3.
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