Hide sellers reported a slow start to the week as most buyers in China were uninterested in making new purchases as they wait for the All China Leather Fair (ACLE) to start next week. A few large tanners were active in the market with their focus on premium US steers. The trades that were done were concluded at current market levels.
More business is expected as the week progresses.

Cattle Slaughter Forecast

Cattle slaughter is forecast by The Jacobsen at 625,00 head this week, up 1.46 percent from last week and down 7.80 percent from last year. Cattle slaughter finished last week at an estimated 616,000 head, up 2.16 percent from the week prior and down 7.28 percent from last year. Over the next six weeks, slaughter is forecasted at an average of 618,240 head per week, down 4.76 percent from the same time period in 2022 and down 0.92 percent from 2021.

Figure 1.

…