Cattle hide prices are unchanged today with many in the trade focusing their attention on today’s election in the US. Looking back at 2004 for George Bush’s reelection and 2012 for Barack Obama’s as well the 2016 election, the Jacobsen Hide Index has been relatively unaffected by the news. The surprise in 2016 did little to sway prices up or down and the move higher in 2012 followed the consumer price index higher from June to December of 2012. Pundits are anticipating a longer counting process this election and that could spell uncertainty in the markets, but those betting on a big night for the Democrats are tying those stock market bets to the possibility of increased economic stimulus from the government, which could have a short term boost on consumer goods demands.
Figure 1.
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