The Jacobsen Commentary and Market Opinion

Courtesy of www.thejacobsen.com

This week’s hide market was transitional as some producers decided to accept lower prices in order to move hides. Following six weeks of export sales lower than the yearly averages, it became a priority to sell a week’s worth of business. The tone of the market was softer although there were still a number of suppliers claiming favourable positions and unwilling to take down money. Early in the week’s trading, packer HTS sold as high as $88 and HBH $78.50; but by the end of the week, buyers were able to find packer BBS at $86, HTS at $87 and HBH at $76.50. The net results were mixed with trades for steer/heifers ranging from steady money to $1 to $2 down.

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