BRADFORD MERINO TOP MARKET FIRMS AGAIN

Wanganui Chronicle, 17 October 1950, Page 5

BRADFORD MERINO TOP MARKET FIRMS AGAIN

LONDON, Oct. 16 (Recd. 6 pm)— After showing easier tendencies for several days the Bradford Merino top market was firmer in every section, last week and top quotations wers against the buyer compared with a week ago, states the International Wool Secretariat special news service.

Two chiefs reasons were: (1) The firmer tone reported by Dominion wool markets, and (2) the possibility that American requirements of wool for military purposes might make increased calls upon Dominion wool resources. There has been a buying movement of reasonable size in the Bradford top market. The trade there responded to a firming of wool prices in primary markets. Some large users of Merino and fine crossbred tops entered the market and bought at prices showing improvement on those ruling last week. The medium crossbred top market is adjusting itself slowly to new conditions created by the British decision to allow larger imports of South American wool. This has had the effect of checking the recent remarkable price advance in tops made from New Zealand wool and the tendency is for lower prices in all qualities below 56’s. At the same time only limited quantities of South American wool are on offer.

Approximate quotations are: 70’s A 2425; 64’s A 2255; 64’s B 220 d; 60’s super 202 d; 585 s super 180 d; 56s super 158 d; 50's 135 d; 48's and 46's 134 d.