BRADFORD RECOVERS AFTER SET-BACK TO N.Z. CROSSBRED PRICES

Wanganui Chronicle, 13 December 1949, Page 5

BRADFORD RECOVERS AFTER SET-BACK TO N.Z. CROSSBRED PRICES

LONDON, Dec. 12 (Recd. 6pm).— The Bradford top market is recover* ing its poise after a slight setback ta New Zealand medium crossbred prices which began In London recently and was reflected in New Zealand last week, states the International Wool Secretariat special news service. This has not seriously undermined confidence among consumers, but has

created an element of uncertainty, and new business in medium crossbred tops is at a temporary standstill. Until users satisfy themselves no major price movement is in prospect. The present view here is that the spot premium on medium crossbred combing wools in London had reached abnormal proportions, and it is this premium which has been shortened rather than basic selling prices in crossbred wool. Some New Zealand crossbreds in London last week were 6d more per clean lb dearer than comparable wools selling in New Zealand, but the price modification has brought London prices nearer New Zealand parity. Today, in fact, some crossbreds in London are slightly firmer than a week ago, and if London finishes firm the confidence here will soon be fully restored. Approximate Bradford top market quotations are: 70’s A, 134 d. 70’s B, 128 d; 64’s A, 125 d; 64*s B, 121 d; 60’s super,, 114 d; 60s’ average, Hid; 58 s super, 97d; 58’s average, 93d; 56’s super, 82d; 56’s average, 80d; 50’s, 58d; 48’s, 56d; 46’s, 55d.—Special NZ.P.A. Correspondent.