LONDON HIDE MARKET

Evening Post, Volume CXXIII, Issue 128, 1 June 1937, Page 12

LONDON HIDE MARKET

Weddel and Co., London, April 15, report:- "Unfortunately, the markethas not improved during the. week. Continued absence of the U.S.A. buyera from the market has tended to causa uneasiness here and the net result hat been that little or no business .has been done. It is likely that prices may recede further before there is any active buying. No doubt the tanners in this country would be prepared to operate at present values as they need hides, but naturally, in view of the weaker situation, will wait until prices have come down /urther. Some accumulation in stocks of ox hides .has taken place, although even today there is no big quantity. It is difficult to say whether the U.S.A. buyers would be prepared to continue operating if. the ■ general situation in that* quarter was better. Prior to this present relapse - reports came through to the effect that the U.S.A. tanners would need to buy ' hides in the Plate right through ~ the long-haired season, owing to the fact that stocks of hides in packers' hands v are small and tanners' ■ requirements are growing. Candidly, it does not seem likely that the States will be out of the market for any length of time, and without stocks there is no sign of turn of sentiment on the commodity markets and stock . markets and the world buying will recommence. Russia is always prepared to take some hides, but is a cautious operator. The rest of Europe will.follow the lead given by the big buyers.

"New Zealand freezer cow hides, nominally held for 9>\d. would certainly not fetch today more than 9d to 9Jd. ; : • ■ "Meantime, the leather marker is very much better and quite good progress is reported from tanning centres."-