WOOL AND TOPS MARKETS

Press, Volume XC, Issue 27502, 9 November 1954, Page 15

WOOL AND TOPS MARKETS

PERIOD OF DIFFICULT TRADING (N.Z. Press Association—Copyright) LONDON, Nov. 8. Trading conditions in wool and tops in the United Kingdom are marked with considerable difficulty. Caution and hesitancy are apparent in the Bradford market, states the Wool Secretariat special news service. Wool is now arriving at Bradford from United Kingdom ports following the settlement of the dock strike, but some time must elapse before the dislocated conditions can be fully smoothed but and, while coping with these problems, importers have been advised of the dock strike in Australia which holds an immediate threat to wool shipments. This adds further complication to an already difficult situation and is exercising an immediate effect on trading, as any orders accepted for processed wool today would be chiefly for new year delivery to be- executed from the current season’s purchases which are still th be shipped. In these circumstances some of the leading Bradfora topmakers have withdrawn from the tops market and are no longer open to accept business until their wool supplies are more assured. Crossbred tops are 3d to 4d cheaper and medium crossbreds Id to 2d cheaper. There is a certain variation in the quotations of individual firms and the actual prices at which, business might be done are difficult to define as there is scarcely enough inquiry to test quotations. Wool consumption in the United Kingdom maintains fairly good levels for September. Figures of- output show that mill {►reduction has recovered from the lower evels expected in the holiday months of July and August, but spinners and manufacturers show little disposition to make purchases of processed wool such as tops and yarns until the market shows greater price stability.