Buyers remained interested in cheaper US cured hides over the weekend of June 15-16, but price negotiations were ongoing while buyers continued to hold firm on paying lower than last-traded levels.

Sellers expect more business to be concluded during the night of Monday June 17 and later in the week.

The strike at the Guelph, Ontario Cargill plant continued into a third week as of Sunday June 16. A hide seller reported that the United Food and Commercial Workers (UFCW) union and Cargill aimed to conclude contract negotiations by the end of June. For the time being, the hide supply continues to be absorbed by other processing plants in the area.

Cattle slaughter forecast
Cattle slaughter is forecast by Fastmarkets’ research team at 620,000 head in the week to Saturday June 22, up by 0.81% week on week and down by 4.54% year on year.

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