BRADFORD WOOL MARKET

Press, Volume LXXXVII, Issue 26493, 7 August 1951, Page 9

BRADFORD WOOL MARKET

RESULT OF WASHINGTON TALKS AWAITED (Special Correspondent N.Z.P.A.) LONDON, August 6.

Although the Bradford market traditionally furnishes a world lead on Dominion wool prices and demand during the phase in which the Dominion markets are temporarily closed for the be-tween-seasons interval, local conditions are difficult to analyse. This is due to the acute uncertainty prompted by factors on the political background, says the International Wool Secretariat’s special news service.

Yorkshire importers point out that the commercial outlook for wool cannot be measured until a definite result emerges from current inter-government wool discussions in Washington, and the same factor is one of the principal reasons why commercial activity in Bradford is extremely limited. British and Continental wool importers hope for an early Washington announcement which will clarify official intentions regarding wool as defence material. Importers also await with interest the result of the Australian referendum concerning the proposed marketing organisation to succeed the existing Joint Organisation. Meanwhile, the wool-consuming trades of Britain and Europe show reluctance to place further business and existing orders for the supply of processed wool such as tops and yarns are being delivered much faster than new business comes forward. There Is difficulty in maintains the recent price level, and the week’s tendency, is, if anything, in buyers’ favour.