THE WOOL MARKET

Evening Post, Volume CXXVI, Issue 45, 22 August 1938, Page 12

THE WOOL MARKET

BRADFORD ON HOLIDAY

(By Telegraph—Press Ass**.—Copyright.)

(Received August 22, 9 a.m.) LONDON, August 21. ! The Bradford wool market is excep-i tionally quiet and is even taking holidays on account of the trend of events in Germany. The Yorkshire wool trade generally regards the impending signature of the Anglo-American trade agreement with lively satisfaction. —— IMPORTANCE OF AMERICA. News from America is brighter in regard to wool, report Winchcombe. Carson, and Co., Sydney. In July mill activity was greater than for some time and consumption showed the first signs of appreciable revival seen for over a year. That development was supported by larger sales of fabrics for both men's and women's wear. As a result prices in the States for some classes of domestic wool were 20 per cent, higher than a few months ago. That rise should not be accepted as a guide to world markets as values in America had reached an abnormally low level, but the development is an indication of more confidence in American trading circles. At the beginning of July, however, stocks of apparel wool on hand in the United States, plus the estimated unshorn position of the clip, were higher than the average for the past ten years. A sustained increase in consumption will, therefore, be necessary to cause an extensive wool importing movement in America.

Yorkshire operations would brighten if American trade were larger. When business is satisfactory, the United States imports large quantities of Bradford products, including the higherclass fabrics, noils, wastes, and consignments of British-grown wool. The importance of America in the outlook can, therefore, be understood.