LOWER PRICE FORECAST.

Auckland Star, Volume LXXI, Issue 176, 26 July 1940, Page 4

LOWER PRICE FORECAST.

MAF?i<ET FOR SHEEPSKINS.

LOSS OF FRENCH TRADI-

(By Telr>gr£y>li.— l*ress Association.) CURISTCHURCH, this day

A re\ ision of sheepskin prices alter July '.'7 is cxpectcd to cut current rates substantially, some authorities sav bv as miK-h as half.

Bradford nicrcliaiite have advised the Dominion control authorities that the -present state of the sheepskin market docs not warrant a maintenance of the .present fixed schedule". Accordincrlv, all .Wins have 'been advised to catalogue their holdings <>i pick led skins as at July 27. The appraisement will take iplaoe a few days later on the basis of the old schedule. Alter this appraisement a new series of prices will be announced. One reason for the revision is the loss 0 f the huge French market, whioh vanished overnight wioii the French capitulation. The industry plays an important part > n Xew Zealand s role as a .primary producer tor in 1030, 17..V37.830 skins were ex ported, with a total value of £1,011.613 The cffcct <ri this reduction will .be four•tola. !• armers will receive a lower return per head for their stock, butchers will lose on the transaction because their margin of piofit will ]>e .cut by the lower selling ■prices for skins, the public will probably 'have to meet increased retail prices, and Xew Zealand's sterling funds abroad will 'be affected.