BRADFORD WOOL TRADE

Sun (Auckland), Volume III, Issue 799, 21 October 1929, Page 10

BRADFORD WOOL TRADE

RISE IN MERINO PRICES SALES IN AUSTRALIA Australian and X.Z. Press Association Reed. 9.5 a.m. LONDON, Saturday. The Bradford wool trade is still hampered by the prolongation of the wages dispute, but a definite settlement is expected within a fortnight. In the meantime there lias been increased activity in Merino tops, which have shown a general increase of 4d within the last 10 days. The “Yorkshire Post” says:—“This rapid upward movement is evidence of the extent to which spinners have failed to cover their requirements for the immediate future. Recent advances in tops have already affected the wool sales in Australia, but a more sober feeling is now noticeable in Bradford, which is playing for time to see if a response comes from the cloth end of the trade. “The withdrawal of so much wool from the first half of the Australian selling season is not having the desired effect, as many manufacturers refused to follow the rush which sent up prices. If the growers do carry forward onetliird of the offering to the second half of the season, it will prejudice the owners in the New Year. This week’s advances in tops have only strengthened the determination to go cautiously rather than buy, in fear of higher prices in the New Year. Immediate requirements have been covered, and consumers in Yorkshire are likely to wait rather than speculate, and let the growers have the risk of carrying supplies of raw materials.”