Cattle Hide Prices Higher, JHI Up 1.4 Percent Week on Week

Cattle Hide Prices Higher, JHI Up 1.4 Percent Week on Week

Hide trading was minimal to start the week. The Friday Jacobsen Hide Index closed at $47.33 compared to $46.69 the week prior. The week’s estimated cattle slaughter was 653,000. The previous week’s kill was 575,000 and the corresponding week last year it was 575,000. Year-to-date slaughter at 17.938 million is up 4.7 percent from 2020. Packer beef margins for the week were a positive $402.02 per head versus a positive $459.95 the week before according to HedgersEdge.com. 

The week’s estimated cattle slaughter is 580,000 head, down from the previous week’s harvest of 623,000 and last year’s 648,900. Year-to-date slaughter at 15.415 million is up 5.6 percent from 2020. Labor issues are expected to continue to contribute to the slower cattle slaughter in the near term.  

Figure 1.

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