BRADFORD MARKET
QUICK BUYING MOVEMENT
MERINO TOPS IN DEMAND N.Z.P.A. Special Correspondent
Rec. 9 p.m. LONDON, Oct 18. Several quiet weeks have ended m a quick buying movement in the Bradford merino top market within the past few days, and mqst British spinners have covered their requirements for some further weeks ahead, states the International Wool Secretariat Special News Service. It is impossible to say, whether these purchases are forced by* circumstances, or are a sign of returning consumer confidence m merino wool prices, but it is well known that the spinners’ contracts for tops were unusually low. . The total weight of business placed was not heavy in relation to the capacity of the British industry, but possibly represents the largest movement of its kind since the current season opened. Prices accepted for tops were keenly competitive in relation to the current dominion wool costs. There is much discussion here on whether the merino price decline has been arrested. Trade comment is reserved, but the primary market events of the next few weeks will be watched with unusual interest . A restoration of full confidence in wool would be expected to produce a much larger business in tops and yarns than has yet emerged. Bradford merino top quotations have now declined about Is 6d per lb from the highest point of recent months, but are still considerably above those ruling at the beginning of last. season. To-day’s approximate quotations are; Seventies, (a) 106 d, (b) 102 d; 64’s, (a) 99d to IOOd, (b) 95d; 60’s -super, 85d; 58’s super, 70d; 56’s, 56d; 50’s, 36Jd; 48’s, 35d; 46’s, 34d. Consumption in all qualities is so high that the need still exists to regulate the exports of tops to ensure that adequate supplies remain for the United Kingdom machinery. New Zealand crossbred tops in all qualities continue to enjoy a steady demand, but the prices remain substantially unchanged at the levels ruling at thd close of the last New Zealand wool marketing season.
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Bibliographic details
Otago Daily Times, Issue 26906, 19 October 1948, Page 5
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330BRADFORD MARKET Otago Daily Times, Issue 26906, 19 October 1948, Page 5
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