LONDON HIDE MARKET

Evening Post, Volume CXXII, Issue 36, 11 August 1936, Page 12

LONDON HIDE MARKET

Weddel and Co., London, July 9 report that confidence has not yet been restored to trie hide market. The drought in theTJnited States has made the position rather worse. Probably many more cattle will be slaughtered again this year, creating a further supply of hides. No doubt quite a few of these will be of a light, scraggy nature, quite unsuitable for sole leather; but the moral effect is there all the same. Europe has felt uneasy about the news which has come through, and the tendency is to stand by and await further developments. Most miscellaneous and colonial hides nave been very difficult to sell during the past week owing to the decline of the Argentine Frigorifico market. Nevertheless, values are continuing to hold together very well. Dry salted Queensland Meatworks, for example, have tieen sold at 5 7-8 din light ranges, and New Zealand freezer cows 30/501b at 5Jd. Nothing can be bought at less than these prices at present. From reports received it is stated that the shoe production in the United Kingdom is still very high. Recently there has been a lapse in orders from the retailers. Taking the long view, neither tanners nor shoe manufacturers seem at all perturbed about the future. As soon as the summer holidays are over a good early autumn trade is expected.