Raw materials


dramatically higher than in August. The increase was 175%, and compared with September 2022 they were 148% higher. For Q3, the average was 129,192, up by 2% over Q2 and by 30% over Q3 in 2022. Shipments of wet-blues in September averaged 127,925. This is 19% higher than in August but 17% lower than in September 2022. For Q3, shipments averaged 119,292, 4% higher than in Q2 but 16% lower than in Q3 last year.


Weaker demand, lower cattle prices forecast The October World Agricultural Supply and Demand Estimates forecast for 2023 red meat and poultry production was lowered from September, as higher beef and pork production is more than offset by lower broiler and turkey. Beef production is raised on higher cow and bull slaughter in the second half of the year, which more than offsets lowered third-quarter steer and heifer slaughter. The increase in total slaughter is partially offset by lower-dressed weights.


The beef import forecasts for 2023 and 2024 are raised on continued strength in demand and availability of supplies in Oceania. Beef exports are lowered for 2023 and 2024 on increased competition. Cattle price forecasts for 2023 are lowered from last month, reflecting September and early-October prices and weaker expected demand for cattle during the fourth quarter of the year. Cattle prices for 2024 are also lowered from last month, as larger supplies of cattle in feedlots are expected to put downward pressure on fed cattle prices.


US cattle on feed down


Cattle and calves on feed for the slaughter market in the US for feedlots with capacity of 1,000 or more head totalled 11.1 million head on 1 September 2023. The inventory was 2% below 1 September 2022. Placements in feedlots during August totalled 2.0 million head, 5% below 2022. Net placements were 1.95 million head. During August, placements of cattle and calves weighing less than 600lb were 420,000 head, 600–699lb were 305,000 head, 700– 799lb were 455,000 head, 800–899lb were 488,000 head, 900–999lb were 245,000 head, and 1,000lb and greater were 90,000 head. Marketings of fed cattle during August totalled 1.88 million head, 6% below 2022. Other disappearance totalled 55,000 head during August, 4% above 2022.


Hide market had a close eye on the fairs to see if they would deliver The start of the autumn leather fair season was much anticipated, but the first major shows failed to deliver major changes to the US hide market. The Shanghai show was well attended as was


Leather International / www.leathermag.com


Butt-branded steers 60 –


50 – 40 – 30 – 20 – 15 – 0


1020304050 Weeks


Heavy Texas steers 60 –


2021 50 – 40 – 30 – 20 – 10 – 0


1020304050 Weeks


Heavy native steers


65 – 60 – 55 – 50 – 45 – 40 – 35 – 30 – 25 – 20 –


0


1020304050 Weeks


Branded cows 30 –


25 – 20 – 15 – 10 – 5 – 0 – 0


1020304050 Weeks


2021


2022 2023


2021


2022 2023


2022 2023


2021 2022 2023


17


Price ($)


Price ($)


Price ($)


Price ($)


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