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Zia Commodities reports that US cattle slaughter byproduct values, including hides and offal, have declined since early July and fell below last year's levels in August. Butt-branded steer hide values dropped to $50.47 in September from a 2017 high of $65.55 in March.
Falling byproduct values reduce packer margins, which can make packers more reluctant to pay up for cattle and weigh on live cattle prices. The effect is gradual and reflects routine market movement rather than a new supply shock.
ziacommodities.comLester AldrichOct 25, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
