LONDON HIDE MARKET.

Auckland Star, Volume LXVII, Issue 113, 14 May 1936, Page 4

LONDON HIDE MARKET.

RECENT SETBACK. MAY BE TEMPORARY. Reporting on the world hide market*, at April 2, Messrs. W. Weddel and Cn London, state: — The result of the week's trading L been none too satisfactory. 'fi le has given way in most selections of Soa' American hides, but light ox hides ha'* suffered worst of all. These have W accumulating for some few weeks nT' and packers have now disposed of aW» 30,000 at equal to about od to 5%d c lip» part basis (63% to 04 pesos). Xow 0 ' course, there is a rush to buy further on this basis and it may be that the maik«' will tighten slightly. Heavy Argentine Frigorinco ox hides are down to 82% pesos (say, 6 7-16 d) aa ,j may decline further before any steading is reached. In spite of the weakness of Argentine Frigorificos and other South American sorts, there lias been very little chan" worthy of note in the United State This present setback of the market 1® weakened the confidence of a good manv European buyers, but we do not think that it should be taken too eerioushThere is a good deal more backbone to tic bide market now than has existed for some years and we feci certain that any serious setback is entirely out of the. question. All colonial and miscellaneous eoiti have been difficult to sell owing to the unsettled state of the American"markets. Nevertheless. Australasian hides have not altered in price to any extent. Queensland dry salted meatworks in all weights are well inquired for at GM.d, but shippers are not eager to sell unless they can do better. New Zealand hides, on the other hand, can be bought at slightly, less moneyfreezer cows at 5%d and abattoirs possibly at sd.