US PERSPECTIVE—25.02.20
Courtesy of The Maxfield Report
www.themaxfieldreport.com
Last week in the big packer trade saw most of the packers enter the week with offer lists that were more populated than the week prior, fuelled by the fact that over the course of the past four weeks, sales have been roughly half of the harvest.
In regards to asking prices, sources report they were “all over the board”, as many packers opted to lower their asking prices closer to trading levels of the week prior, although it was widely known by most members of the trade such asking prices were merely “starting points”.
Unfortunately, for packers, there are so many logistical problems due to the coronavirus in China that shipments are more important than prices at the moment.
Reports from members of the cowhide trade last week nearly mirror the big packer trade. A combination of larger numbers of cows in the harvest mix than a year ago, coupled with all of the problems surrounding COVID-19 and the logistical problems it has created, has resulted in not nearly enough interest.
