The US hide market has been gaining momentum throughout the past few weeks. A few sources stated that they have vast bidding lists and many buyers are willing to pay a premium for some products. Increased demand from the upholstery sector has been a big driver of the upswing. Today prices were again higher on Heavy Native Steers, Heavy Native Dairy Steers, Branded Heifers, Southwest Dairy Cows, Native Cows, Native Bulls and Branded Bulls.
Outstanding Export Sales
Tables 1 and 2 below show the total outstanding cured hide and wet blue export sales by selected countries through September 12. Through Week 37, the total outstanding sales are 4.953 million from 5.077 million the prior week. With the same period average weekly slaughter at 600,063 head, the cumulative outstanding sales represent 8.25 weeks of production from 8.45 the previous week.
Table 1 & 2.