PRICES FOR WOOL TOPS AT BRADFORD; HIGHEST LEVEL SINCE THE WAR

Wanganui Chronicle, 11 May 1948, Page 5

PRICES FOR WOOL TOPS AT BRADFORD; HIGHEST LEVEL SINCE THE WAR

OtXf.A tscetal—Copyright.) 1 Reed. 7.10 p.m. London, May 10 In keeping with wool values in the Dominion markets and in London, top-market prices in Bradford are now at the highest point since the war and exceed the previous highest level this season by a few pence per pound, states the International Wool Secretariat special news service.

High woo] prices in London this week are forced by keen Continental competition, which includes not only the normal range of the chief European wool consumers but also Russia, Ciechoelavkia, Poland, Yugoslavia and Norway, while Germany is also buying limited weights. Foreign comK 1 ' m is in both Merinos and crossand the prices paid represent 3d to 4d per lb. in the top more than the lately ruling prices for combed wool in Bradford, rfor example, New Zealand 50’s are costing the equivalent of 43d per lb, in top, although Obtainable prices for such tops in Bradford are yet short of 40d. Similarly 64’s (Bi tops from wool bought In London this week would ccst up to Io4d compared w’.th the current Bradford quotation of 102 d based on cheaper bought wool. Yorkshire is net happy about current wool prices, forced by foreign countries buying almost without limit, but Yorkshire, is in general inadequately stocked In wool to meet the coming months, when the primary markets will be closed, and must therefore buy while the wool is available. The position, nevertheless, is regarded as more stable than early in the year, as current clip stocks remaining for disposal today are in comparatively small volume. Wool commands relatively more confidence today on the strength of the limited supply position, and fair business is moving in the Bradford top market at the highest prices paid this season. Britain’s wool consumption is still expanding and the industry is bracing itself to still greater efforts ot reach the high export target. The strongest feature in Britain today is the rapid rate at which the machinery is- absorb ng the wool. Most firms carry little more than average working stocks in wool and must buy for continuity. Current top qoutations are below

replacement costs and are approximate! v: 70's, super 112 d; 70's, average, 106 d; 66’s, 105 d; 64’s (A), 104 d; 64’s (B> lOld; 60's, super, 86d to 87d; 60’s average, 83d; 58’s, super, 69d; 56’s, 58d; 50’s, 37d; 48’s, 58d; 50’s, 37d; 48’s, 36d; 46’s, 35d..