British Wool Position

Chronicle (Levin), 2 August 1949, Page 3

British Wool Position

LONDON, August 1. On the eve of Britain's principal holiday week, the Bradford wool and top markets are exceptionally strong with a home and export inquiry over a wide range of Meriho and cross bred ! qualities and a useful volume of new business is being transacted, states the International Wool Secretariat special news service. The . firm close of "the London wool saies and commercial wool stoeks here which are by no means excessive to cater for the consuming demand, are the two chief f actors in the strong position. The demand, for Merino tops cohtinues extremely heavy and some firms hdve sold their entire output for the remainder of this year. As this absorbs the wool they have bought and as littie Merino wool is available until the next Dominion sefling season opens, some firms have witndrawn from the fnarket. They could accept further business today only by speculating on next season 's wool prices and will not do that. Most firms cannot accept new orders for delivery before November and buyers in urgent need of earlier supplies are offering premium prices for quick delivery but find few people to accept their offers. Traders weleome cabled information of more satisfactory Australian loadings but deplore the announcements that waterfront trouble in New Zealand has caused an adjournnjent of the Napier, Wanganui and Wellington crutching saies. Shipping delays which might be of littie account if trade stockB here were adequate, threaten embarrassment when stocks are low as a result of sustained high consumption in Britain aua Europe.