The US hide market had a quiet tone to start the week. A few sellers stated that carryover business concluded at steady prices for several hide selections. In general, cow hide demand remains firm from Chinese upholstery tanners whereas steer hide demand is moderate but buyers are firm on not paying higher prices.
A seller reported his negotiations from the weekend fell through, as the buyer walked away from a few offers at steady prices for steer hides. The buyer shared with the seller that they have insufficient leather orders to support paying the current market prices.
Cattle Slaughter Forecast
Cattle slaughter is forecast by The Jacobsen at 610,00 head this week, which is up 1.84 percent from last week and down 3.39 percent from last year. Cattle slaughter finished last week at an estimated 599,000 head, up 1.01 from the week prior and down 4.24 percent from last year. Over the next six weeks, slaughter is…
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