SET-BACK TO TRADE

Poverty Bay Herald, Volume LXV, Issue 19550, 4 February 1938, Page 14

SET-BACK TO TRADE

POOR MARKET FOR SKINS OPOSSUM, RABBIT, SHEEP LITTLE OVERSEAS DEMAND (SjiHcial to the Herald.) DUNEDIN, this day. A much less profitable season for rabbiters are those dealing in rabmit skins was announced by brokers approached by a reporter. The market for New Zealand skins has fallen away by as much as 50 per cent, it was said. In America there was r.o market at present, and forced sales in London have brought prices 40 per cent below those ruling last year. The market for sheep skins also had 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 result would be disastrous to the industry. America Biggest Buyer America has been* the biggest buyer of New Zealand rabbit skins 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. A reporter was told that 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., depreciated in value by 30 to 50 per cent, and rabbit skins, 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 rabbit skins ih America.' English buyers are of the same mind, as is shown by the fact that the London sale scheduled for January 12 was postponed to March 16. The London agents of New Zealand firms advised that forced sales have resulted in prices 40 per cent below those ruling from June to July, 1936. It is obvious, then, that the prospects for the coming season, as- far as trappers are concerned, are -very obscure. Whereas midwinter skirls’ of lagt year were worth from £P '.to £8 IQs 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 the trappers to trades people in the country districts. It is certain that the storekeepers and other tradespeople will feel the reaction during the coming season. Open Season Opposed Probably as good an indication as any, is the comparison between the prices brought by light racks on the Dunedin markets from February to March of last year, and those being realised to-day—4Bd 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 abou,t sheep skins. 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 approached by the reporter. “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 holdings comprises from 180,000 to ,200,000 skins, some stocks having been held since as far back as 1935. “Prices are low enough now,” the informant said, “but if the Government should decide on an open season again, the position would be still less encouraging. New Zealand opossum skins are practically unsaleable at the present, and that has been made apparent from the results of the very small offerings."