Report on London Wool Market

Chronicle (Levin), 28 September 1948, Page 3

Report on London Wool Market

Reeeived Monday, 7 p.m. - LONDON, Sept. .27. The wool market this week is reacting to the easier tone in the Australian markets and with good Merino combings in London quoted belovv last week's closing rates, the Bradford top market is also easing, says the International Wool Secretariat weekly news bulletin. Compared with last week, Merino top prices are about 2d a pound cheaper but comebacks and Australiatn fine erossbreds are' firm at recent levels. There lS lilcely to be littTe business, in tops until prices show more, stability but there is. a considerable inquiry and available pointers suggest a large volume of business in tops and yams waiting to 'be placed as sooli as spinners and manufacturers consider .tlie moment appropriate for buying. Bradfords best news this week was that teehnieal experts consider this season's Australian clip one of the' best for several years- in Yorkshire style wool. A feature of this week's market is the increased turnover in New Zealand erossbreds of most types. Most New Zealand wools are selling in London at improved prices and the Home woollen ■trade is buying greasy, scoured, carbonised and slipe wools in largeq volume than for many weeks past. There are also big inquiries for crossbred tops but prices bid are low compared with current wool costs. In London, 50 's quality cost the equivalent of 38d for tops but Yorkshire firms caunot make more than 36d for 50 's, 34M for 48 's and 33 Jd fpi" 46 's. The Continent is also displaving more interest in erossbreds.