Hide market participants were relieved that the impending strike of more than 9,000 Canadian rail workers was called off due to government intervention that forced the Canada Industrial Relations Board (CIRB) to impose binding arbitration.
Several hide sellers had plans in place to move material by truck instead of utilizing Canadian National and Canadian Pacific Kansas City railways in case the strike was to happen, sources told Fastmarkets.
Trading was softer on Tuesday August 27 for regular-weight heavy native steer (HNS) hides, driven by slow buying activity from the automotive sector. HNS hides dropped $1 per piece from the last reported trade of $28.50 per piece.
Some hide market participants began their travels to Asia to meet with customers ahead of the All-China Leather Exhibition (ACLE). Many expected a slow week of hide trading due to the travel and the anticipation of more sales activity during the ACLE.
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