The US hide market began the week starting Monday November 11 following an active weekend of cow hide trading at flat prices and concern revolving around port strikes in Canada disrupting hide trade flow.
A seller told Fastmarkets that they offloaded a large volume of cow and bull hides to a few buyers willing to pay last-sold prices. Some sellers preferred to move material rather than continue to push for increases this week. Other sellers told Fastmarkets that they preferred to pass on bids that were flat and try for increases heading into the new week.
According to sources, the Canadian Longshoremen Union strike at several ports in the country continued into Monday, with the union refusing to accept an offer of 20% increase in pay over six years. The largest ports on strike were Montreal, Price Rupert and Vancouver.
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