The market began the week with higher prices. Over the weekend, sales of Branded Steers and Colorado Branded Steers moved up $1. Heavy Native Steers and Butt Branded Steers are also expected to rise in price in the near term.
Last Week’s Close
The Jacobsen Hide Index on Friday closed at $20.03 compared to $18.98 Friday the week prior. Big packer steer quotes included HNS from $32, BBS at $31, BS at $18, and CBS at $17 and HTS at $22 FOB plant.
Packer beef margins for the week were a positive $297.56 per head versus a positive $324.75 the week before according to HedgersEdge.com.
The Week’s Slaughter Forecast
The Jacobsen slaughter forecast for this week is 640,000 head, and if realized, will be 4,700 head less than the same week last year when it was 644,700.
Cattle slaughter finished last week 651,000 head, up 0.2 percent from a year ago. Over the next six weeks, slaughter is forecast at an average of 633,300 head, down an average of 0.2 percent from the prior six weeks and down 2.4 percent compared to last year.
Figure 1.
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