THE HIDE MARKET

Timaru Herald, Volume CXLII, Issue 20612, 29 December 1936, Page 14

THE HIDE MARKET

A LONDON REPORT Weddel and Co., London, reporting November 19. stated that "Another definite rise in prices has been established on the River Plate market, and Argentine Frigorifico sound ox hides fetched the equivalent of 7d per lb. c.i.f„ S/W. This is very nearly the highest price which has been paid since the 1932 slump. ... At the present rate of progress, and taking into consideration the fact that there are at least three months ahead of good shorthaired hides, it is not absurd to suggest that a further 5 to 10 per cent, increase in price may be established. "The buying is definitely in the hands of the North American operators. The European trade, for the most part, is finding it impossible to compete. Nevertheless, day by day it is becoming increasingly obvious to tanners here that the raw hide market must move to higher figures for all descriptions if this bullish phase in the States continues. In previous years when the hide market has started to boom it has usually been led by North America. “The international political situation does not at present appear to affect buiness in any way. “All miscellaneous and colonial varieties are steadily gaining ground. Prime freezer cowhides from named works have made the equivalent of 61d for 30/40 lb. Other New Zealand freezer cows 30/50 lb. cannot be bought at less than 6d. Australian hides are also quoted dearer.”