Courtesy of www.thejacobsen.com

Market activity and analysis

Last week ended with the market steady showing a small amount of strength which was reinforced by Friday’s USDA export report. Most people in the industry were thinking sales would be mediocre, but the report was surprisingly stronger than expected for both exports and sales. Combined blue and hide sales for the week came in at 820,000, exceeding slaughter of 678,000 by 142,000 pieces. The primary destinations of the 185,600 wet blue sales were China and Italy with 50,600 and 32,200, respectively. For the 635,000 hide sales, primary destinations were China and South Korea with 314,200 and 159,000.

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