THE HIDE MARKET.

Manawatu Standard, Volume LVI, Issue 46, 23 January 1936, Page 12

THE HIDE MARKET.

SLIGHTLY BETTER FEELING

Discussing tlie Doncion hide market on December 15, W. Wcddcl and Coy., Ltd., remark: — , The slightly better feeling which crept into the market a week ago has developeel and enabled packers to secure a rise of two pesos on the value of sound Argentine Frigorifico ox hides, which now stand at 80 pesos, equal to about 6 3-16d-6jd a lb, c.i.f., shipping weights. Quite a fair business is going on from day to day, but the North American buyers are taking the lion’s share. It was thought that Europe would possibly play a much bigger part by this time, but the ’return of confidence has boon slow owing to the rather flat situation created by the domestic hide market, which for the most part has not yet gained ground at all. Nevertheless, it can be taken foif granted that if North and South America continue to peg up prices day by day the European domestic hide market will soon become more settled and probably firmer. It is stated that in no country is there any large supply of hides on hand, so this must be taken as a bull point for the future of the hide market as a whole. There has not Ixfn much change in the international political situation so as to give rise to an.y further unscttlcnient. . The now clearing arrangements with Goimany have not commenced to function. Trading reports from U.S.A. ure given, and it is thought that hide values will be a firm feature during the coming jcai. The closing prices for the months March and June on the Now York “futures exchange wore yesterday 11.67 cents, and. 12 cents. This is a rise of about 15 points on the week-the last figures given wore 11.53 cents and 11.86 cents respectively. Some progress has been made in actuals”; heavy native steers remain firm at 15 cents, but light native cows arc half a cent higher, now quoted at 11 cents. English hides were for the most part steady at our North of England auctions, one or two selections, chiefly cows, being id lower. . The slightly firmer tone in the River Plate will probably influence all European domestic hides toward bettor prices within the next few days. . . Some miscellaneous and colonial business is reported, but there is not very much change in values. New Zealand freezer cow hides have been sold at s§d, with abattoirs 4Jd. Capes have been rather freely offered at 6|d to 7d for sun-dried firsts and 6id to 6|d lor dry salted. The latter, however, have been much more easily saleable than. the. former. Australian shippers arc firm in their asking prices, probably due to a good local demand. . , , ~ The leather situation is naturally quite steady; tanners are not showing any anxiety regarding the future, as they seem convinced that a better market is on the way Quite possibly the trading may havo a tendency to slow down owing to , seasonal difficulties.