Cow and steer hide trading was busy today at steady levels to +/- $1 per piece at most. Southwestern dairy cows increased $1 from last traded levels whereas heavy Texas steers traded $0.50 lower for packer material.
Most sellers stated they are well sold ahead of the All-China Lather Fair (ACLE) conference next week and are not pressured to sell. Slower cattle slaughter has also limited their need to sell, and bolstered the case for higher prices. Two sellers reported high bidding activity for branded cows at price levels that were already above current market levels, but sellers have not felt the need to trade lower prices ahead of the ACLE.
Some sellers were more apprehensive of higher prices because of the weak demand. With bearish economies in China and Europe, some sellers do not think there’s enough reason to push hide prices higher.

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