HEAVY PRICE DECLINE

Dominion, Volume 31, Issue 110, 3 February 1938, Page 15

HEAVY PRICE DECLINE

Rabbit, Sheep And Opossum Skins ABSENCE OF DEMAND Dominion Special Service. Dunedin, February 2. A much less profitable season for rabbiters and those dealing in rabbitskins was reported by brokers ai> proached by the “Otago Daily Times. The market for New Zealand skins has fallen awav bv as much as 50 per eent., it was said. In America there was no market at present, and forced sales in London have brought prices 40 per cent, below those ruling last year. The market for sheepskins has also declined fully 40 per cent, since April of last year, and at present there are no selling channels open. The market for opossum skins is in much the same state, and it was said that if the Government should decide to declare an open season for opossums the results would be disastrous to the industry. America has been the biggest buyer of New Zealand rabbitskins since 1918. and the extent to which the Dominion has come to rely upon orders from that source is shown by the fact that as soon as America ceases to operate there is no longer any market. That is the position at present. Last winter’s skins were eagerly sought after by New York buyers, but the Wall Street break and the home troubles of the United States were reflected naturally In an immediate slackening in the demand for luxuries, and, of course, women’s furs constitute one of the first luxuries to suffer. High-priced skins for aristocratic furs, silver fox, musk, mink, etc., had depreciated in value b.v 30 to 50 per rabbitskins, the lowest-priced furs made into garments, followed suit in the natural course of events. The result is that to-day there are no buyers for New Zealand rabbitskins in America. English buyers are of the same mind, as is shown by the fact that the Loudon sale scheduled for January 12 was postponed! to March 16. London agents of New Zealand firms advised that forced sale s have resulted in prices 40 per cent, below those ruling from June to July, 1936. It is obvious, then, that prospects for the coming season as far as trappers are concerned are very obscure. Whereas mid-winter skins of last year were worth from £8 to £B/10/- a 100 it appears to be a fair estimate that prices this year will be 50 per cent, lower. About £BOO,OOO came into Otago last year from overseas sales, and that money was distributed through trappers to tradespeople in country, districts. It is certain that storekeepers and other tradespeople will feel a reaction during the coming season. Probably as good an indication as any is a comparison between prices brought by light racks on the Dunedin markets from February-March of last year and those being realised to-day —4Sd. a pound last year and about 14d. to-day. This is the type of skins used largely by glovers in the United States.

Much the same story is to be told about sheepskins. It was said that the market has declined fully 40 per cent, since April of last year. Comment on the recent decision of the Otago Acclimatisation Society to inquire from brokers and other societies regarding the advisability of declaring an open season for opossums was made by another broker. “Such a decision would be suicide for the trade,” he said. “At the London sale of January 27 only about one-third of the holdings was offered, and even that declined in value by about 25 per cent., compared with the values of the previous sale, and the total holding comprises from 180.000 to 200,000 skins, some stocks having been held since as far back as 1935. “Prices are low enough now,” this informant said, “but if the Government should decide to open the season again the position would be still less encouraging. New Zealand opossum skins are practically unsaleable at present, and that has been made apparent from the results of very small offerings.”