The hide market began the week with limited trades happening over the weekend. Butt Branded Steers and Colorado Branded Steers adjusted down to last Wednesday’s trading levels. Demand for leather material intended for automotive and upholstery remains firm.
The Jacobsen slaughter forecast for this week is 665,000 head, and if realized, will be 194,900 head more than the same week last year when it was 470,100.
Cattle slaughter finished last week 640,000 head, up 32 percent from a year ago. Over the next six weeks, slaughter is forecasted at an average of 656,700 head, up an average of 3 percent from the prior six weeks and up 32 percent compared to last year.
Figure 1.
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