The US hide market began the week with no hide price changes. There were some reports of business over the weekend, but at steady prices within last week’s ranges. Overall, packers are well sold with a number of December shipments on the books. Packers have reported increasing interest in Heavy Texas Steer (HTS) and Branded Steers (BS).
[HIDE-SALES]
The Jacobsen slaughter forecast for this week is 655,000 head, and if realized, will be 11,700 head less than the same week last year when it was 663,200.
Cattle slaughter finished last week 647,000 head, down 1.5 percent from a year ago. Over the next six weeks, slaughter is forecasted at an average of 647,500 head, up an average of 0.03 percent from the prior six weeks and down 0.5 percent compared to last year.
Figure 1.
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