US hide market began the week quietly. With the Thanksgiving holiday at the end of the week, it isn’t expected that the market will see much change. Carry-over business from the weekend did show a decline of $2 for Heavy Texas Steers and $1 for both light and regualr weight categories of Butt Branded Steers.
The Jacobsen slaughter forecast for this week is 570,000 head, and if realized, will be 14,700 head less than the same week last year when it was 555,300.
Cattle slaughter finished last week 655,000 head, down 1.9 percent from a year ago. Over the next six weeks, slaughter is forecasted at an average of 583,300 head, down an average of 10.0 percent from the prior six weeks and down 2.7 percent compared to last year.
Figure 1.
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