US Perspective–07.06.11
08/06/2011
Courtesy of www.thejacobsen.com
Last week’s hide market was moderately active with a tone that began muted and picked up later on. Business in general varied depending on who you talked to. Some people indicated business was good—one noting interest picked up toward the latter part of the week. A few sources reported business somewhat flat. Packer HTS sold for $85.50 and BS from $84 to $86.
Combined wet blue and hide exports for week ending May 26 was 700,700 pieces and shipments 541,700. Through week 21, average weekly total sales are 587,841 and shipments are 594,719 pieces. The week’s sales were greater than many had estimated which perhaps gives some indication as to the relative firm stance packers maintained this past week. Like the week before, a week’s worth of hides was sold. For comparison, slaughter the week before last was 675,000 and the year-to-date weekly average is 642,321.
Wet blue sales picked up considerably with 202,400, pieces sold, compared to the year-to-date average of 134,455. Average wet blue sales this year are trending close to last year’s average at 131,634. Below is week 21 year-to-date comparison of wet blue and hide sales, shipments, and cattle slaughter.
The figures for slaughter, sales and shipments of hides and wet blue through week 21 (May 26 this year) are as follows. In 2009, slaughter, sales and shipments were 13,189,668; 14,467,200, and 13,162,000 respectively. The comparative figures for 2010 were 13,510,688; 11,884,095, and 12,338,700. The figures for 2011 are 13,488,741; 12,344,667, and 12,489,100.
The shortened holiday week resulted in a significantly reduced slaughter from the previous week. USDA estimated week-ending slaughter was 617,000, down 58,000 from last week and also down 10,164 from the same period last year when it was 627,164. Earlier in the week, the Urner Barry poll guesstimated slaughter to be 617,105.
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