Steer hide trading today was down 50 cents from Friday’s close. The downward movement followed buyer resistance to pay current market levels and the anticipation of reduced hide quality coming from winter hides.
Historically, winter hides have the worst grading of the year because of the harsh weather conditions for US cattle. Buyers typically build their inventories prior to the months of January and February to have better quality material in stock. Following the historically poor quality of hides last year, buyers are concerned that this year could be similar.
Cattle Slaughter Forecast
Cattle slaughter is forecast by The Jacobsen at 640,000 head this week, up 1.3 percent from last week but down 4.52 percent from last year. Cattle slaughter finished last week at an estimated 632,000 head, down 0.63 percent from the week prior and down 5.52 percent from last year. Over the next six weeks, slaughter…
12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...