Trading was minimal to start the week, but sellers did hear rumors of steers trading in decent volumes to China at discounted prices. Buyers reported limited leather demand which slowed business last week, but sellers and USDA exports note sales continue to occur at good volumes.
Packer offer lists will go out tonight.
Cattle Slaughter Forecast
Cattle slaughter is forecast by The Jacobsen at 635,000 head this week, up 1.93 percent from last week but down 2.50 percent from last year. Cattle slaughter finished last week at an estimated 623,000 head, down 0.16 percent from the week prior and down 5.79 percent from last year. Over the next six weeks, slaughter is forecast at an average of 635,830 head per week, down 2.59 percent from the same time period in 2022 and down 0.25 percent from 2021.
Figure 1.
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