BRADFORD MARKIT AFFECTED BY NEW ZEALAND SALES

Wanganui Chronicle, 30 November 1948, Page 5

BRADFORD MARKIT AFFECTED BY NEW ZEALAND SALES

(N.Z.P.A.—Copyright.)

LONDON, Nov. 29 (Rec. 6 p.m.)— New Zealand opening prices are relatively above Bradford market prices for crossbred tops and some topmakers have temporarily withdrawn their quotations for crossbred qualities until the position clarifies, says the International Wool Secretariat special news service.

Even after recent advances crossbred vtfools are generally regarded as reasonable in price in comparison with Merinos and relatively nearer to the minimum reserve level. British-grown crossbreds are also moving against buyers, comparable qualities being fully in line with New Zealand types. Merino tops are also moving sharply against buyers this week, consequent on daily price advances in the Australian market. The impression has been created here by the very strong tone of the Melbourne market for 60’s and fine crossbreds in particular. These qualities are much in demand to replace tine Merinos in some types of cloth and show the largest advance at the current London sales. Melbourne endorses this advance this week, while Perth and Newcastle also record a steadily rising price level in Me'rino wool of all types. Bradford buying limits are being advanced almost daily, as most firms need to be sure of wool supplies coming forward in the months ahead. It is impossible to sell Merino tops in Bradford in line with what the wool is costing, either in London or in Australia, but quotations are being steadily advanced and a little business is moving at progressively better prices- There is undiminished consumer resistance to current Merino prices.

Current top quotations are approximately: 70’s super, 124 d to 125 d; 64’s “A” 115 d to 116 d; “B” HOd; 60s, 97d; 58s, 77d; 56’s, 63d.