The US hide market had a busy bidding day today. Many bids are reportedly lower than the last traded levels, but sellers continue to push for steady to higher prices. Packers are well sold, with a few December shipments booked but the main focus is on Q1 2021. The lack of containers still poses a problem for many sellers, in particular with the steamships. 

US Housing Starts October 2020

US privately owned housing starts for October were up 1.4 million units, or 2 percent from September and 11 percent above the prior three-year average.  Since the end of 2019, housing starts in the US have tracked at all-time highs with the exception of the first and second quarters of 2020 when the impact of COVID-19 cases had a freezing effect across the economic spectrum. Low interest rates and a trend of deurbanization are expected to continue to contribute to growth in housing starts relative to prior years. 

Tracking…