Market Activity & Analysis

The US hide market concludes the week holding at steady lows. Prices remain relatively unchanged, with the exception of a few major dips. HNDS and Kip Skins are among the prices that have seen a dramatic decrease. Not many buyers are bidding higher than the lower prices. The consistent lower prices and lack of demand are an indication that leather manufacturers don’t have much of an appetite for the product. Also, with meatpacking plant closures, the slaughter is significantly lower than the previous year. Big packer steer quotes included HNS from $23.50, BBS from $16 to $21.50, BS at $13, and CBS at $13 and HTS at $18 FOB plant. 

Week-Ending Slaughter

The week’s estimated cattle slaughter was 425,000. The previous week’s kill was 465,000 and the corresponding week last year it was 673,000. Year-to-date slaughter at 10.564 million is down 4.2% from…