Hide supply increased more than previously expected in the spring of 2024, driven by an upswing in cattle slaughter, several sources told Fastmarkets.

Cattle slaughter is forecast by Fastmarkets’ research team at 620,000 head in the week to May 25, up by 3.68% week on week and down by 0.85% year on year.

Cattle slaughter finished the week to Saturday May 18 at an estimated 598,000 head, down by 3.86% week on week and by 6.61% year on year.

Cattle slaughter during the first half of 2024 tracked below previous years, but slaughter figures were higher than previously anticipated by market participants. One packing plant slaughtered approximately 900 cows during the week to Saturday, but they had previously slaughtered 700 cows per week on a regular basis, one source said.

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