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Chronicle (Levin), 15 June 1948, Page 6

• v W — r Received Monday, 8.50 p.il. LONDON, June 14. In keeping with wool prices in the Dominion and th.e United Kingdom spot marlcets the Bradford top market is quoted dearer again tliis week, most Merino tups being '6d to Sd per 1b. more than when last quoted. The conditions in Yorkshire dre without precedent in the last quarter' of- a century, states the Iiiternationa-1 -Wool Bocretariat 's special news service. Many large firifis after holding aloof from the top market for many weeks- now iind themj.selves obliged to buy if thei'r maehineTy •is to remain active, and fairly substantial weights of tops have been placed under contract this week at the higbesi prices for/ ncarly 30 years. -There is eonsumer resistance -to • wool goods at these prices,, but manufacturers ha-ve the option of either .paying the current prices demauded by .world competition for wool or ' moving. to lower qualities of raw materials. . There is- 110 pronounced move in the latter direction so far.

Yorkshire trade- opinion is that the current rate of deniand for Merino eoiitbing wool exceeds the available , current clip supplies. and although the .Joint Organisatio.il is doing its best to remedy the deficiency by oiferings from the wartime surplus, it is apparent that the Organisation's siocks of good combing wools are now limited in volume. Traders here welcome the Joint Organisation's aiuiouucement of a further 50,000 bales oil'ering in Australia this season and wish thifi ^quantity could be doubled as it is doubtfuHif Yorkshire has ever been more lightlv stocked in wool at this stage of the season. Yorkshire 's heavy pbrchases of combing wool this season have been largely liquidated by tlie rate of consumption, sometimes as higli as 6,000,000 lbs. of clean wool x3er week. Most of the firms have iusufficient wool to carry j theiii through until next season 's Doj minion clips begiu to arrive here. Ilence the keen interest in sxiot wool. Bradford topmakers are quoting Merino tops at rather less than cul-rent replacement costs, and are using stocks of wool previously bought at lower prices to cna.ble tliem to sell at an average price somewhat below today's wool cost basis. Tlie fipproximate quotations are: 70 's, super, 132d; 70 's, average 12(jd; (34 's (A), 123d to I24d; (54 's (B), 118d; (30's, super, I03d; (50's, average, 98d; 58 's, super, 7(5d; 5(5 'a, 60(1 ; 50 's, 38d; 48 's, 37d; 4(5 's, 3(5d.