JHI Closed $43.56 on Friday, Down From Week Prior

JHI Closed $43.56 on Friday, Down From Week Prior

The US hide market had a quiet trading tone after the weekend. Some business was concluded at lower prices than what was traded on Friday. The steer market was relatively quiet last week and as a result sellers expect for returned buyer interest for steer material. European tanners purchased lower quantities over the past few weeks in comparison to past fall trading volumes. The Jacobsen Hide Index (JHI) on Friday closed at $43.56 compared to $43.91 Friday the week prior. 

For the week ending September 18th, 2021, cattle slaughter is forecast at 655,000 head, a one percent decline from 2020, a .89 percent drop from 2019, but a 13.5 percent growth from the previous week due to the Labor Day holiday. The potential for figures below this is highly probable with a fire at JBS Nebraska diminishing slaughter by as much 6,000 head a day. Another packing plant was down for Monday with computer related issues. Analysts have stated thinner supply in most…

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