Report On British Wool Market

Chronicle (Levin), 2 November 1948, Page 5

Report On British Wool Market

LOXDOX, Xov. 1. The Bradford market is respoiuling slowly to reports to dearer wool in both the Dominion and s])ot markets states the International Wool tSecretariat special news serviee. Average style IMerino wool in Australia last week wa? at least ,'!d per clean 11). dearer than the previous week, better style wools | in Geelong being uji niore than that and firmer reports also come from South Afriea. The Liverpool saies opened with most wools fullv 5 per. eent, dearer than at the close ot the London September saies whieh makes spot wool relatively dearer than comparable types in the Dominions and the keen sjiot demand is shared by a wide range of Home and Contintental buyers. Wool in Liverpool is costing the equivalent of about lOSd for 64 's (A) tojis, 105d for 64 's (B; and S)4d to 95d for 60 's super tops, British spinaers and manufacturers will not yet pav these prices but substantial business in Merino tops was placed last week in the Bradford top market at prices better than the lowmst lately available. Firmer wool has convinced some users of the need to buy and some of the largest firnig placed useful weights of tops under eontract. Prices are below current w'ool costs but a consumiiig interest has been reawakened. .Some large topniakers have temporarily withdrawn their quotations, having sold as much as they can at the lately ruling lower prices. Firms open to do business are asking more money though quotations still lag behind wool costs. The g.p-. proximate current quotations are 92d for 60 's super, about 00d for 64 's (B) and 104d to K)f5*I for 64 's (A). Iieally big business is still lacking but the market liere shows some response to firmer wool. All erossbreds are firm at late rates but these are less than current spot wool costs. Discussions are proceeding between the j authorities and the wool industrv here | on the possibilitv of granting greater ! freedom to Pnited Ivingilom wool | top experts which at present mav be i made only to hard currency countries, The trade' urges that a greater top export freedom wouhl be nn added incentive to production and enable Pnited Ixingdom iniporters to give greater sujqiort to the Dominion wool markets.