The US hide market was quiet on Wednesday November 6 following the US re-election of President Donald Trump. Many market participants discussed possible near-term market directions under a second President Trump term.

Considering that over half of US hides are traded to China, hide prices are at risk of decreases to help offset increases for Chinese manufacturers to sell in the US, according to Fastmarkets analysts. The Trump Administration proposed a 60% tariff on Chinese imports, a major increase from the 7.5-25% tariffs imposed during President Trump’s first term.

As of October 24, approximately 56% of total hide production in the US was exported to China, according to the United States Department of Agriculture.

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