Steer prices moved down a $1 today on packer Heavy Native Steer and Branded Steer material. Steer prices are under stress while more bearish factors arise in the global hide market. Currently, the shipping issues, the upcoming Chinese Lunar New Year holiday break, higher post-holiday slaughter production bring high hide supply, the poor quality of winter season hides and the lack of footwear demand are all risks to rising hide prices. 

Outstanding Export Sales  —  Through January 21

Tables 1 and 2 below show the total outstanding cured hide and wet blue export sales by selected countries through January 21. Through Week 3, the total outstanding sales are 4.618 million from 4.673 million the prior week. With the same period average…