GREAT REDUCTION.

Ashburton Guardian, Volume 60, Issue 247, 26 July 1940, Page 4

GREAT REDUCTION.

THE PRICES' OF SHEEPSKINS. REVISION AS FROM TO-AIORROW. y (Ter Press Association). CHRISTCHURCH, This Day. Revision of the prices. for sheepskins after to-morrow is expected to cut current rates substantially, some authorities snv by as much as half. Bradford merchants have advised' the Dominion control authorities that the present state of the sheepskin market does not warrant maintenance of the, prensnfc fixed schedule. Accordingly all-brokers have been advised to catalogue their holdings of pickled skins as at July 27. Appraisement will take place a few days later on the basis of the old schedule. After this appraisement a new series of prices will be announced.

One reason for the revision is the loss of the huge French market, which vanished overnight with the capitulation. Industry plays an important part in New Zealand’s role as a primary producer, for in 1939 17,537,830 skins were exported with a total value of £1,614,613.

The efftect of this reduction will bo four-fold. Farmers will receive a lower return per head for their stock, butchers will lose on the transaction because their margin of profit will bo cut by lower selling prices for skins, the public will probably have to meet increased retail prices, and Nci-.v Zealand’s sterling, funds abroad will bo affected.