US Perspective - 17.05.11
The Jacobsen Commentary and Market Opinion
Courtesy of www.thejacobsen.com
The US hide market last week continued to be under pressure with prices down around $2 from the previous week. Steer selections had prices bunched closely with the majority of packer hides selling for $90 C&F. Some people said they were able to move fairly decent volumes but business was somewhat spotty between suppliers. Cow hides also sold for less, although some of the premium sources were able to hold prices better than others did. It might be wishful thinking, but most people thought enough volume was sold to hold prices this week. For the week, the Jacobsen Hide Index fell 2.49% with the weekly average of $81.88. In the past four weeks, HNS have dropped $7 or $7.7% from $90 to $83. A year ago, native steer prices were $73 which makes today’s market still ahead by over 27%.
