The US hide market reported steady volume for the weekend, but limited business with buyers in China and Korea. Korea has returned today from holiday, and China will not return until Thursday. Slaughter concluded the week at an estimated 665,000 head, which was higher than expected. Today, Heavy Native Steers have been reported down at $32 and Heavy Texas Steer were steady at $23.
HNS 66/68 @ $32.00 OR 0.3725
HNS 66/68 @ $24.00 OR 0.2800
HTS 64/66 @ $19.00
HTS 64/66 @ $23.00
The Jacobsen slaughter forecast for this week is 650,000 head, and if realized, will be 1,700 head more than the same week last year when it was 648,300.
Cattle slaughter finished last week 665,000 head, up 3.2 percent from a year ago. Over the next six weeks, slaughter is forecast at an average of 640,800 head, up an average of 0.6 percent from the prior six weeks and down 1.7 percent compared to last year.
Figure 1.
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