The US hide market started the week slowly after a  moderate amount of business over the weekend. Reported by a few tanners in China, wet blue sellers had sold good volume of material at discount price levels last week. Buyers believe packers’ inventory were building up and they needed to move material to make room for incoming cured hides.
The overall global economy remains weak due to the war in Ukraine, high interest rates, inflation and limited consumer spending. Hide sellers are concerned with increased hide demand happening until the economy improves.

Cattle Slaughter Forecast

Cattle slaughter is forecast by The Jacobsen at 640,000 head this week, up 11.69% from last week and down 4.63% from last year. Cattle slaughter finished last week at an estimated 573,000 head, down 8.32% from the week prior and down 5.69% from last year. Over the next six weeks, slaughter is forecasted at an average of 630,830 head…