“CHEAPER SHOES"

Sun (Auckland), Volume II, Issue 568, 22 January 1929, Page 12

“CHEAPER SHOES"

HIDE MARKET WEAK LEADING EXPORTER'S VIEWS “Cheaper shbes can be looked for in the near future. TJhe hide market is down, with no sign of an immediate revival, and the market for the finished article must come back in sympathy.” Thus a leading Domi ion hide and skin exporter, speaking to a Sun representative this morning. At the moment the market for hides is practically 50 per cent, below that at the corresponding date of last year, but even so, it is not down to the average level of prices for the previous live years. The following comparison of Sydney market values for January makes interesting' reading.— Weight. lb - 1926. 1927. 1928. 1929. 34-39 .. ..6% 62 142 SI 40-4 H .... 61 6J 141 75 •• •• 14i 7 1 54-60 . . 74 8 16 10 Since the peak prices of 1920 the hide market has been most erratic. I lie year 1921 saw a sensational slump, when prices fell away to less than onethird of the previous season’s record average figures. A gradual strengthening then took place until 1923, when a further setback was given to values. The market then recovered, and held fairly steady until 1927, when a decided upward movement set in, and at January of last year prices showed an advance of 40 per cent, on the 1923 levels, and were only slightly under 60 per cent, of the 1920 levels. From January of 1928, however, the market sagged appreciably, showing on the Sydney auction parity a decline of approximately fourpenoe a pound on mediumweight hides. The market has not recovered since, and, according to one of New Zealand’s leading exporters this morning, indications are that even lower prices may rule in the near future. This, of course, will be reflected in the shoe trade. The overseas leather trade is reported to be suffering at the moment as a result of ruthless competition and over-speculation, and the near future should see a period of stocktaking and the cutting of loses. On the Continent of Europe, Czecho-Slovakia is proving a keen competitor to the leather interests, the manufacturers of that country taking advantage of the cheaper rates for hides made possible by the ban on exports of the raw material. Leather from Czecho-Slovakia is finding its way to all ports of Europe, and is even competing with the United States product.