RABBITSKINS

Otago Witness, Issue 3442, 2 March 1920, Page 13

RABBITSKINS

SLUMP IN AMERICA. ENGLISH MARKET HOLDS ITS OWN. Advices from New York received by local merchants dealing in rabbitskins state tha{ at the last St. Louis rubbitskm sates, held on February 12, there was a drop of about IOOd per lb in the prices for best winter skins, as compared with the prices ruling at the sales held on January 9. For medium winter skins thecg was a drop of about 50d per lb, and for summer skins the drop was 22di per lb. >

The curious part about this business is that at the London sales, held on February 18, the prices showed a slight advance on the prices at previous sales. The explanation offered tor this peculiar position is that, owing to the shortage of shipping from the dominion to London, very few skins are going on to the London market just now. Another cause for the good prices in London is the fact that there were big Parisian orders to be executed. One opinion given on the American situation for what it was worth was that the Americans were probably trying to bear the market owing to the fact that winter skins were now coming in. The American prices, from the point of viev of local merchants, are interesting. A few'months ago they were buying up skins at 240 d per lb, and these were sold at St. Louis at 217 d per lb. When it is taken into consideration that these skins cost the merchants an additional 16d to 18d per lb to land on the American market, to say nothing of the profit they look for, the slump is a serious matter. A strange fact, however, is that the Dunedin market the other day did not follow New York, but followed London. The prices were practicaly the same as at the previous sales, and it would appear that the market here had been influenced by the London market.