LONDON HIDE MARKET.

Auckland Star, Volume LXV, Issue 10, 12 January 1934, Page 4

LONDON HIDE MARKET.

VALUES CONTINUE STEADY. A HOPEFUL FORECAST. In their weekly circular dated Loudon. November 30, Messrs. W. Weddel and Co. summarise the position of the hide market as follows:— A good steady position has been maintained in the hide market; in fact the price of 5%d per lb has been made here for our own Anglo ox hides selling on net cash terms to a tanner", but there in no desire on the part of the trade generally to pay quite such a high price as this, although we have refused the equivalent of ad in other directions. The American buyers are definitely willing to operate, and'we expect to hear of more business being done at any time. There has been a rather hesitant attitude on the part of packers, due to the fact that they have so few hides to offer. On top of all this has come the sudden slump in the Argentine exchange, due to a Government manoeuvre in order to establish a profitable trade balance. By next week the true value of the peso ought to be fairly . well established, and hide prices fixed accordingly.

Colonial and miscellaneous hides are selling to this country at about the same prices as those last recorded, in fact there has been very little variation in the value of most miscellaneous sort* of hides for some time, aivl compared with certain frijjorifico varieties some quotations are attractive, and, 'these are being more rapidly bought by the tanners in this country.

Leather is very difficult to sell at present, and any attempt to £et prices lifrlier is proving almost kn-iossible. Nevertheless, we do feel that the continued strength of the raw hide m'ui'ket io hound *o assist Wtbex sooner or later.