HIGHER PRICES FOR WOOL

Ashburton Guardian, Volume 70, Issue 79, 17 January 1950, Page 5

HIGHER PRICES FOR WOOL

COMMERCIAL

ALL EXPECTATIONS EXCEEDED LONDON, January 16. The exceptional price increases which were recorded by the Dominions’ wool in all markets this week have exceeded the expectations of Britain and Continental consuming countries and the Bradford market, and the situation is difficult to assess, states the International Wool Secretariat special news service. The Australian Merino advance of nearly Is per clean lb, and the New Zealand medium crossbred advance of about 5d per clean lb, represent one of the biggest price jumps in the last 25 years, but they have not brought trade here to a standstill. On the contrary, there is a keen demand for all types of spot wool from both Home and Continental buyers, and spinners are anxious to buy substantial weights of tops lest prices move further against them. The inquiry for wool and tops here has reached a substantial volume, with buyers more eager than sellers. The sale of fire-damaged wool from the Joint Organisation stock held at Bradford saw prices paid for damaged wool comparable with those paid for similar sound wool at the last London sales. The approximate top quotationsa are:—7o’s: “A,”* 145 d per lb; “B” 143 d. 64’s: “A” 142 d; “B” 138 d. • 60’s: Super, 1275, average 122 d. 58’s: Super, 108 d, average IOGd. 56’s: Super 92d, average 90s. 50’s: 65d. 84’s 64d. 46’s: 63d.