Hide trading over the weekend was minimal with most sellers reporting that business was wrapped up before the weekend. Some sellers stated that the steer interest that they thought would be carried into the weekend ended up fading out after sellers remained firm on their offer prices and buyers were uninterested in paying the steady or $1/piece higher to current market price levels.
Packers are expected to release hide offers tonight and tomorrow which may draw in more trading activity in the second half of the week.
Cattle Slaughter Forecast
Cattle slaughter is forecast by The Jacobsen at 620,00 head this week, which is up 13.55 percent from last week and down 4.22 percent from last year. Cattle slaughter finished last week at an estimated 546,000 head, down 0.91 percent from the week prior and down 17.36 percent from last year. Over the next six weeks, slaughter is forecasted at an average of 615,830 head per…
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