A dual ratio drive for a rotary sheer comprises a parallel pair of first shafts carrying freely rotatable first gears. A pair of second shafts are rotatable about axes parallel to the axes of the first shafts. Each second shaft carries a shear blade, and a second gear in meshed relationship with one of the first gears. A drive shaft is connectable to one of the second shafts by a first gear set having a high speed ratio, and is connectable to one of the first shafts by a second gear set having a low speed ratio. A clutch alternately engages one or the other of the first and second gear sets to drive the second shafts and their respective shear blades at the different speeds.