MERINO TOPS BRING 10/- PER LB

Press, Volume LXXXIV, Issue 25677, 14 December 1948, Page 6

MERINO TOPS BRING 10/- PER LB

(Special Correspondent N.Z.P.A.) LONDON, Dec. 12. Merino tops at 10s per lb are once more an established fact in Bradford, states the International Wool Secretariat special news service, and New Zealand 50*s are approaching 4s per lb for the first time since .the war. These are prices at which more firms are not prepared to build up stocks either in wool or tops. They will buy what they need, but will not buy ahead. Importing trades are impressed by the strength of world competition for wool, and the small commercial stocks here indicate that Yorkidle 6 must buy if machin ery is not to be A reasonable amount of export trade is moving in tops and yarns, but new nome trade is in small compass. British millmen do not believe that present wool prices are in the best interests of expanded world wool consumption, but recognise that many countries seem preparsd b *g weights at to-day's prices

and that Britain must follow if she is to have adequate supplies. United Kingdom wool cloth is not yet commanding comparable prices in world markets, while the home trade is being driven to progressively lower qualities of raw material owing to official cloth price ceilings. Current top quotations are: 70’s, super 128 d per lb; 64’s “A,” 120 d; 64’s “B,” 11M; 60’s, super, 102 d; 58’s, super, 82d; 565, super, 68d; 50’s, 46d; 48’s, 43d; 46’s, 42d.