Automotive Industry Faces Slowdown

Automotive Industry Faces Slowdown

The US hide market remained relatively steady for the week with a couple of active trades. Both light and regular weight native steers traded lower by $0.25. Butt branded steers traded down $0.50. Colorado branded steers traded down $0.25. Branded heifers traded $0.25 below yesterday’s price point. Additionally, sources reported high interest in cows.

It appears that rising interest rates are still affecting consumer spending. Many shoe manufacturers do not expect the situation to improve anytime soon. Disruptions to global supply chains combined with the slow economic rebound have resulted in several major automakers slowing production, which may soon have a negative impact on steer prices.

Actual Slaughter by Classification

Table 1. 

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06.06.2023

Higher SBO Market Sparks Boost in Offer Prices

Higher SBO Market Sparks Boost in Offer Prices

Distiller’s corn oil traded at 55 del Manly, IA for the nearby market and in a range for July and August today. There were offers to sell as high...

06.06.2023

Minnesota Clears the Way for Hemp-Derived Cannabinoid Markets

Minnesota Clears the Way for Hemp-Derived Cannabinoid Markets

Minnesota is rolling out new cannabis legislation that creates a pathway for select intoxicating hemp-derived cannabinoids.  The state has also followed New...

06.06.2023

Pasture and Range Conditions Improve for Most States

Pasture and Range Conditions Improve for Most States

Animal proteins were mixed for Tuesday, with unsettled undertones present in poultry items. Communication of a have-have-not spread has led to irregular ranges on all regions for poultry-by and...

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