The US hide market began the week on a quiet tone with no trades reported on Monday.
A few sellers continue to hold a pessimistic view on the market, as they have since the end of last week when trading was slow. After another slow weekend of trading, a few sellers expected a downturn in hide prices heading into the next few weeks.
Last week’s trading activity was minimal which may lead sellers to offer more selections and volume this week.
Cattle Slaughter Forecast
Cattle slaughter is forecast by The Jacobsen at 625,400 head this week, which is up 1.99% from last week but down 1.66% from last year. Cattle slaughter finished last week at an estimated 603,000 head, down 1.63% from the week prior and 1.39% down last year’s levels. Over the next six weeks, slaughter is forecast at an average of 628,330 head per week, down 0.35% from the same time period in 2023 and 4.35% below levels in 2022.
Table…
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