The week began slowly, with no change on prices. China continues to be the major buyer of US hides, while Italy is quiet. Cattle slaughter in the US continues to be strong.
[HIDE-SALES]
The Jacobsen slaughter forecast for this week is 645,000 head, and if realized, will be 4,700 head more than the same week last year when it was 658,900.
Cattle slaughter finished last week 643,000 head, up 0.4 percent from a year ago. Over the next six weeks, slaughter is forecast at an average of 634,00 head, down an average of 2.3 percent from the prior six weeks and down 1.0 percent compared to last year.
Figure 1.
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