The US hide market began the week with a quiet tone due to limited business over the weekend. Buyers from the shoe, upholstery and automotive sector are showing demand, but at prices several dollars lower than the last traded levels.
Packers will release offers tomorrow night so more trading activity is expected later in the week.
The market continues to watch the actions taken by the United Auto Workers (UAW) and automakers. An agreement still hasn’t been met and President Biden is planning a trip to Detroit to help negotiations. More employees left their positions on Friday so now 38 facilities across the US are on strike.

Cattle Slaughter Forecast

Cattle slaughter is forecast by The Jacobsen at 625,00 head this week, no change from last week but down 6.32 percent from last year. Cattle slaughter finished last week at an estimated 625,000 head, down 6.88 percent from the week prior and down 1.11 percent from…