Active Korean Interest in US Hide Market

Active Korean Interest in US Hide Market

Steer prices traded sideways today while Native Bulls fell $2 for packer material. Bids are lower or steady to previous trading levels for jumbo weight steers and cows. Chinese tanneries are almost all shutdown, due to the holiday and COVID-19 outbreak, but are still bidding for material. Korea is still actively bidding with plants scheduled to remain open until February 11th.

The Jacobsen slaughter forecast for this week is 645,000 head, and if realized, will be 13,700 head more than the same week last year when it was 631,300.

Cattle slaughter finished last week 653,000 head, up 2.4 percent from a year ago. Over the next six weeks, slaughter is forecasted at an average of 636,700 head, up an average of 7.8 percent from the prior six weeks and up less than 1 percent compared to last year.

Figure 1. 

Membership is required to view the rest of this post.
Click here to learn more and sign up for a free 7-day trial!

Blog

03.27.2024

Illinois Legislation Aims to Create a Clean Transportation Standard

Illinois Legislation Aims to Create a Clean Transportation Standard

Illinois is looking to become the fifth sate to create a clean fuel transportation standard. The Illinois version, if passed, may not be as robust as the ones...

03.27.2024

Sellers see steady to higher prices on interior market trades

Sellers see steady to higher prices on interior market trades

Distiller’s corn oil (DCO) traded higher into the Manly, IA market today, topping out at a high of 47.75 cents lb. Trading into the Gulf and on an FOB...

03.27.2024

Aprill broiler slaughter forecasted below 2023

Aprill broiler slaughter forecasted below 2023

The proximity of the extended Easter holiday weekend kept some participants off the market at mid-week, leaving values generally steady.

Poultry by-product pet grade was reported lower in...

Latest Tweets