High Wool Prices May Boost Synthetics

Chronicle (Levin), 18 January 1949, Page 5

High Wool Prices May Boost Synthetics

Received Monday, 7 p.m. LONDON", .Tan. 17. The Bradford top niarket is furthei against the buyer following an exeeptionallv strong sale of spot wool in Liverpool and the Dominion wool sale." which maintain prices relatively higher than those vet made for tops in Bradford, states the l.W.M. special news service. With the Australian, New Zcqland and Boutli African markets al! in full swing, wool values are having a tborough test and importers here arc impressed with the way in whicli valuer are maintained. Diminisliod Russian cdmpetilioii seems more than balaiu'ed by increased operatioiis by Ja|ian and A'u'Straliian local mills in the CorriniolfWealth market but buyers here art chiefly impressed by the extent of their own uufilled needs. Customers still show resistance to BilYSPTtAt1 yPA'ff? aL !i9.('a.v these have yet to i>e eonsolidated in selli'ng prices for cloth. This takes mo'nths to accoinplish but certain modest progress has been made in aqjusting selling prices of iinal products. Lord Barnby has given a warning that altlrdugh. Wool ; prices are not high. i:. c.omparison with other naturai textib tibresy they may stimulate increased us. of synthetics either by way. of substitu tion or complementary use. Meanwhile the spot wool appetiti here is so considerable that the nex London wool saies will extend over f'ou weeks for tlie iirst time in many year. and the Joint Organisation alone wil. offer 100,000 bales from its stocks Britain 's current rate of wool con siimption appears substantially to ex ceed the current rate importation from . Dominion markets and there is a strong call for spot wool, some ot which is 'passing th rough Yorkshirc machinery within a few davs of being knooked^down at auction.