FIRMER TREND

Otago Daily Times, Issue 27012, 22 February 1949, Page 7

FIRMER TREND

APPARENT IN LONDON NZP A—Copyright Rec. 9.15 p.m. LONDON, Feb. 21. In keeping with the Dominion markets, a firmer tone in all sections is apparent in the wool and top markets here, states the International Wool Secretariat special news service. The New Zealand crossbred position shows an improvement this week. Medium crossbreds in London last week-end showed a steadiness followed by a definitely firmer tone in Christchurch this week, and New Zealand crossbreds in London to-day are slightly dearer than a week ago This appears to have checked the recent easier tendency in tops, and crossbred topmakers in Bradford no longer accept concessions when selling. Some crossbred top prices accepted in Yorkshire during the past few weeks have been possible only by the help of last season's cheaper wool held by some firms, but quotations are firmer to-day. The trade here is impressed by the total clearances in medium crossbreds, both in London and New Zealand. Bradford top sales are mostly confined to small weights rather than bulk business, but transactions are numerous and represent a useful total volume. The turnover in tops is sufficient to ensure continuity in Yorkshire wool-buying operations. Top quotations are unchanged compared with last week.