There was down movement in the hide market today on packer steer hides, but Native Cows (NC) moved $2 higher again today. Resistance from overseas customers was stronger over the weekend on concerns for shipping before the holidays.
The Jacobsen slaughter forecast for this week is 660,000 head, and if realized, will be 8,400 head less than the same week last year when it was 668,400.
Cattle slaughter finished last week 665,000 head, down 0.2 percent from a year ago. Over the next six weeks, slaughter is forecasted at an average of 580,800 head, down an average of 9.5 percent from the prior six weeks and down 3.5 percent compared to last year.
Figure 1.
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