US hide market participants told Fastmarkets that many buyers and sellers continued to negotiate prices for steer hides on Tuesday November 5, but a few sellers managed to sell material at flat-to-higher prices from the last traded levels. Several market participants were concerned with the port strikes in Canada and the impact on hide shipments.
Regular-weight branded steer (BRS) hides were sold at $22 per piece, up by $0.50 per piece from the last traded levels. The US packer who sold the BRS hides said that the deal had a long negotiation but ultimately accepted the slight increase.
According to several news outlets, the International Longshore and Warehouse Union Ship & Dock Foreman Local 514 went on strike on Monday November 4 against all BC Maritime Employers Association (BCMEA) member companies, shutting down ports of Vancouver and Prince Rupert.
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