WOOL MARKET

Gisborne Times, Volume LXV, Issue 10319, 31 January 1927, Page 4

WOOL MARKET

BRADFORD NOT HAPPY. RAW MATERIAL ABOVE PARITY. (Received Jan. 30. 5.5 p.m.l LONDON, Jan. 30. The wool sales are proceeding with increasing strength and the week’s business has been most satisfactory for sellers, but Bradford people are far from happy, for wool is now well above their parity. A Bradford correspondent says: ‘-The relative value of marino wool both in London and the Commonwealth is now pence to pound above the price that can be made for tops. In this market some importers have cancelled their limits rather than take the risk of Inning more raw material on the basis to which it. has now been forced mainly by foreign competition. It is obvious that foreign competitors are able to pay higher prices for wool than ourselves. Some wool importers have come to the conclusion that the lesser risk is to leave the market to these foreign buyers, rather than make the position worse bv attempting to compete with them for further supplies of raw material. Bradford at present is the cheapest market in the world in which to buy tops and yarns and those who have cheap stocks or contracts are. apparently,

content to continue selling at prices wich do not permit replacement, save winch do not pernpt replacement. %

sryVn at a substantial loss. Finer grades of wool, crossbred and merino, are stated to be about threepence poll). too dear in tons for this market.” —A. and N.Z.C.A.