Trading in the US hide market was slow on Monday November 18, but most sources discussed the status of cattle hide supply.
In the US cattle market, feeder cattle futures experienced significant volatility, reaching record highs in November, with live cattle prices steady around $185 per hundredweight in key regions such as Texas and Kansas, according to Barchart.
Market participants indicated that, simultaneously, elevated feed costs and drought conditions led to herd reductions, decreasing the number of cattle processed for beef. This reduction tightened the supply of available hides to trade.
Cattle slaughter forecast
Fastmarkets’ research team forecast US cattle slaughter at 620,000 head in the week to November 23, up by 2.31% week on week and by 16.00% year on year.
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