HIDE SITUATION

Evening Post, Issue 11, 13 July 1936, Page 12

HIDE SITUATION

STILL UNSETTLED

Weddel and Co.,' reporting on the hide market at June- 4, state that owing to Whitsuntide holidays the market was quieter but a steady tone prevailed. No accumulation exists at present, but the demand from Europe has been rather slow and North American tanners have not been exceptionally active, although the domestic' market in that quarter continues very satisfactory. During the week sales of packer hides have been made at last prices, with some selections, especially cow hides, gaining i per cent. Heavy native steers brought 12 cents, and light native cows of this month's kill about 11 cents. The only trouble at present in the States seems to be the difficulty in clearing the remaining light hides of the Government drought kill. Several thousand of these have yet to be disposed of. The shoe production continues to be on a slightly higher scale above the record of last year, so that evidently the whole boot and shoe trade is steadily improving. In Europe there have been political developments, especially in France, which have contributed to the lack of confidence, and until the present Government in France has shown that it can take command of the situation, it may be that there will be a continuance of the present uncertainty coupled with the adverse effect on the gold standard countries.

It can be truthfully said that the tanners are still prepared to buy hides, but find it difficult to obtain foreign exchange for delivery ahead except at a heavy premium. Miscellaneous and colonial hides are slow of sale. Slightly higher prices are being asked by both Australian and New Zealand shippers, but these cannot be obtained yet.

Leather sales have not been very large since we issued our last report, mainly on account of holidays,. but the market is very steady.