THE WOOL MARKET

Dominion, Volume 28, Issue 83, 2 January 1935, Page 12

THE WOOL MARKET

Bradford Tops Very Firm

By Telegraph.—Press Assn. —Copyright. (Received January 1, 6.30 p.m.) London, December 31. The Bradford tops market is very firm,

Writing from London on November 26, at the opening of the sixth and final series of wool sales for 1934. H. Dawson, Sons and Co., Ltd., said:—Renewed confidence is being realised by the growers who are not prepared to accept cheap prices, but prefer to hold if necessary. and small catalogues have been offered up to now in Sydney, Melbourne and Perth. Australia will, however, show a largely increased supply as compared with last season, but the boutu African clip will suffer a further serious deficit. It is difficult to diagnose the trend of values; although supplies will be fully adequate in all Australian and Home selling centres after Christmas Demand for immediate 'consumption has been the dominant factor in European centres. Stocks in wool, both in crossbreds and merinos, are lighter than for several years past. . Tops and yarn have not accumulated in Yorkshire, and holdings are declining at Continental establishments. Shipments to date from Australia are 300,000 bales less than last year and Yorkshire, during the fiist months of this year, has imported considerably- less wool than in 1933. Machinery activity has shown a nJro provement since August, and the October employment figures reveal nearly 7000 more textile hands at work than in September. . The delay in marketing both in Australia and South Africa tends to influence the market somewhat unduly, har more importance is being given to J bu„e supplies yet to come forward than to the sound statistical position in consuming centres. The financial outlook is healthy and waives per bale are low. The large clip from Australia will require lo to -V millions less finance than last year. The steady market registered in Lon don to-day is satisfactory, and chiefly so, because It is justified by the reports of increased consumption and the diminish cd stocks at the combing mills. Crossbreds are finding a remarkably strong inquiry. It is not s 0 sur P risl ”° when’ one considers their . reasonable value, which makes them intrinsically cheap compared with many classes of wastes This should eventually, but XrS increase their utilisation for all W Altogether, wool occupies t unique and sound position in comparison with the general prosperity of the industry.