Weak automotive hide demand drove hide prices for heavy native steers (HNS) lower on Monday August 19, in attempt to move building inventory. Regular-weight HNS hides fell $1.50 per piece from the last-traded price level on Friday August 16. Many market participants were hopeful that automotive leather demand would return with a possible easing of interest rates in the fall.

A trader reported a sale of regular weight heavy Texas steer hides down $1 per piece from the last reported trade, but regular-weight Colorado branded steer hides traded up $2 per piece from the last reported trade. Several sellers said that there was firm demand for lower-priced hides from footwear hide tanners.

Cattle slaughter forecast
Fastmarkets’ research team forecasts cattle slaughter at 612,000 head in the week to Saturday August 24, up by 1.66% week on week and down by 2.33% year on year.

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