British Wool Market

Chronicle (Levin), 6 September 1949, Page 5

British Wool Market

LONDON, Sept. 5. Yorkshire regarded last week's Dominion wool saies as a sound and encouraging, if unspbctacular, opening to the new marketing season and ealculated to facilitate a continuity of business in consuming countries, states the International Wool Recrctariat special news serviee. Yorkshire is buying with f-onfidenee against urgent requirements and is reassured by the knowledge that the price basis is one o^ which business can be done. Australia has done all that | Bradford expected by endorsing the advances which have taken plaee in the spot market since the last Dominion season closed, for the Australian opening is dearer than last London ! saies and has caused Bradford top- ! markers to advance their quotations. It has put new life into the Bradford top market by enablinag firms lately withdrawn, to re-enter the market and quote tops in line with the new season 's wool costs. Some firms are still out of the market while waiting for a settled basis to establish itself but the majority of large firms are now quoting their tops -at priees showing modest advances on those ruling last week. Both Continental and Yorkshire buyers are impressed with the need to obtain the earliest possible shipment of wool as top and yarn new business now being transacted, must be largely delivered from wool still to ship.