Market interest increased today after an unusually quiet Thursday. The US cattle cycle is in a period of contraction and slaughter has been tight in the US, leading some packers to hold prices firm for steer material. Cow hides traded $0.50 higher due to increased interest. Some sellers reported some negotiations were ongoing and were likely to continue into the weekend.
Several sellers plan to travel next week for the All China Leather Fair (ACLE) in Shanghai so business is expected to be slower.
Overall, demand from China for US cattle hides has increased, there was roughly by 1 million more hides exported this year in comparison to the same time of the year prior. However, it is unclear if the increase is driven by customers buying to build inventories at economically attractive price levels or if there was a bump in leather orders.

Actual Slaughter by Classification

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