The hide market began the week with little carryover business due to big volumes booked last Thursday. After the very active week last week, the majority of sellers are putting together their offers today and tomorrow.
The Jacobsen slaughter forecast for this week is 646,000 head, and if realized, will be 38,800 head more than the same week last year when it was 684,800.
Cattle slaughter finished last week 627,000 head, down 5 percent from a year ago. Over the next six weeks, slaughter is forecasted at an average of 645,200 head, up an average of 3 percent from the prior six weeks and up 20 percent compared to last year.
Figure 1.
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