US packers were active in the market today. Heavy native steers traded at steady prices whereas regular weight butt branded steers (BBS) traded $0.50 higher than yesterday’s levels and heavy Texas steers (HTS) traded $1.50 higher. The higher trades for BBS and HTS were in line with reports from last Monday the 20th. However, regular weight branded steers fell $1 from yesterday’s levels.
Hide interest remains from buyers, but price ideas are at lower than current market levels. Shoe tanners continue to push for lower prices. Furniture and automotive demand remains relatively firm, especially from Chinese tanners.
Hide sellers are pushing to sell hides in the next few weeks ahead of Chinese Lunar New Year. Some sellers have accepted lower than current market pricing to avoid material building up in inventory.
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12.20.2024
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