US Perspective - 21.04.08
20/04/2008
The Jacobsen Commentary and Market Opinion—21.04.08
Courtesy of www.thejacobsen.com
The situation in North America could not be anymore confusing as the latest USDA Export Sales Report came out today stating that last week was the busiest week of the year for producers selling wet-salted hides with a whopping 781,200 hides reported sold.
What is interesting about this number is it is extremely difficult to find any of the larger producers to admit they had a large week of sales, let alone a buyer as all of the usual suspects are denying they participated to such a large degree.
Overall, asking prices remain unchanged from a week ago and what we found interesting is that, despite a huge week of sales last week, reports cite that producers appeared as if they actually had a few more hides to sell this week. Meanwhile, the nation’s slaughter is on a historical rise for this time of year and checks in last week at 645,000 head and with expectations that we could see a slaughter number close to 660,000 head this week, producers will more than likely have to keep selling ahead in order to stay ahead of this market.
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