On Wednesday September 25, US hide market participants expressed mild concerns about the impending port strikes in the country but were relieved to hear of progress in a potential implementation delay in the European Union Deforestation Regulation (EUDR).
Roughly 45,000 union workers are set to strike at ports along the East Coast and Gulf Coast on October 1 if an agreement is not made between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) employer group. The ILA is requesting pay raises of approximately 75%.
If the strike were to happen, sellers would be forced to reroute hides to Houston or to the West Coast, but the overflow of rerouted material could cause backups and delays at the ports in use, according to sources.
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