BRADFORD WOOL TRADE

Lyttelton Times, Volume CXVII, Issue 17287, 30 September 1916, Page 4

BRADFORD WOOL TRADE

[Enow Our. ConnF.sroxi»EXT.J BRADFORD, August 1. The top of tho extraordinary rise m merino yalues has been reached during iho past- few days and some of the fancy prices recently talked about have disappeared. Indeed, it is now possible to buy for less than quoted rates. Probably the caso would have been more pronounced but for the loot- that at Sydney good shafty merinoes are selling well up to the Bradford parity. Topmakers who are not well supplied with raw material afe cautious aim tit making reductions, but on the other hand users aro very indifferent in view of the high prices that prevail, and are content for the time being to tako in deliveries on old contracts.- Crossbreds have also shown an easier tendency and actual selling prices may be reckoned fully a halfpenny cheaper. There would probably have been a more substantial full in crcss-breds, due to the prolonged quietness of business, but for a significant announcement made b.y the chairman of a conference held under the auspices of the War Trade Department this week. This is whab the chairman said: --“The present intention ol the De.pifiiment is not to allow any large consignments to leave the country, but to liberate certain amounts of material other than merinoes, at the same time diminishing proportionately licenses ,for the expert of goods of a- merino character, The reason for this course is obvious — namely, that during the last few months merinoes have suddenly advanced in price, whereas'certain other qualities have remained stationary, or have actually receded.” This obviously indicates an attempt by tho War Trade Department to adjust the present extraordinary discrepancy between merino and cross-bred values by a change of policy in favour of the export of cross-breds, and this fact has helped to steady cross-bred values and create a more optimistic feeling in their favour. There has indeed been rather more inquiry for the lower qualities in connection with Russian Army contracts, and it is felt that there will be a sharp rally once users begin to operate with some confidence. It becomes more and more clear that the Government in its efforts to control' the distribution of the value of wool has in view not merely the maintenance of military supplies during the war, but also the position of tho industry in the economic war which will follow the declaration of peace. The large proportion of the world’s wool supplies which is grown within the British Empire obviously places in the hands of the Government a powerful commercial weapon, and special attention is being directed to preve.nt- wool reaching enemy countries both now and during the period immediately following the war. At tho War Trade Department Conference already referred to the following significant official announcement was made:—"ln considering licenses for the export of wool and wool products due weight will be given to the quantities of wool already imported from other sources and to the export prohibitions enforced by tho countries concerned. As an example, it would be unwise to allow any country' to import freely from the United Kingdom and at- the same time to permit that country to export its own domestic clip, or goods manufactured therefrom to enemy countries. It is also considered undesirable to encourage any countries to store supplies on enemy account which cbuld be poured into present enemy countries immediately on the cessation of hostilities.” 'Hie average prices ruling on the market days named were as follows:

J nlv 24, ■ 1916. a. Jnlv 27, 1916. a. Jnlv 31, Aujr.S 1916. 1916. d. cl. Mcrinoes — TO’s . 56 56 56 56 60’s super 54 54 54 51 60’« ordinwY 53 53 53 53 GO's B.A. . — . — — — Crcss-hceds — 5S's . 46 46 46 56’g . 40 -in 40 39* 50’s . 33 33 S3 324 4G’ 3 « . -27J, 27 .V 27* 07 ( 3. 40's . m 26:\ 26* •26* 36" s . 25* 25 J 254 25J 3>’s . 24i 24 i 244 .24* Lincoln— Ilosfgots . 19 19 19 19 Wethers . 19 1!) ■ 19 19 Kent wethers 21* 21* 21J 214