4 -
The important rise in raw cotton which has gathered further strength since August is already apparent in the table overleaf, as well as the fact that average yarn quotations have not increased to the same exter Nor have cotton cloth prices shown an equivalent rise and do not refle the full cost of yarn.
If evidence was needed as to why so many textile firms are switching from the natural to man-made fibres the relatively small increase in prices of the latter provides a simple answer. While average quotations of both man-made fibre yarn and cloth have increased during the past year the advance has been no more than would have been expected in a period of considerable inflation and indeed is less than the rise shown by many other products.
The other two textile items are concerned more with finished goods at the retail end of the business. Prices for hosiery and knitwear remain remarkably constant at only fractionally more than the 1963 level another reason why business has moved in their direction, quite apart from the much shorter working cycle which has favoured knitted goods at a time when fashion changes have fluctuated so remarkably.
In clothing generally the upward movement has been much as expected, although most of the price advance took place in the second half of last year. Subsequent movements have been no more than marginal,
THE MARKETS
Activity in raw cotton was on a reduced scale as many spinners were exceedingly anxious about prospects and avoided building up stocks. Rather desultory purchasing was reported and prices reflected the dull tone, there being no change in the Liverpool c.i.f. index on the week at 36.40 cents. Raw cotton arrivals in Liverpool totalled 558 metric tons, the quantity afloat being 4,509 tons.
Most of the attention in the Manchester yarn and cloth market was centred on the campaign to secure some alleviation of the difficulties facing the industry, particularly from foreign imports. While varied views were expressed as to the timing and feasibility of the agitation most traders felt the need for action was long overdue and hoped for a successful outcome of the efforts being made. The industry's problems were reflected in the large amount of short time being worked and the constant reports of more permanent stoppages.
Dealings meanwhile were relatively light, although in some quarters a little more demand was apparent. Activity in regular home trade makes brought occasional relief for manufacturers, mostly in apparel and furn- ishing fabrics. Yarn sales were irregular but renewed interest was shown in carpet qualities and hosiery types for Midlands consumption.
American type (cotton)
6s ring tube
16s #1
11
24s
tt
32s
11
"
11
36s combed ring tube
16s ring beams
20s 32s
11
11
50/50 Vincel 64/cotton
32s ring tube
32s ring beams.
Sudan type (cotton)
549 carded ring tube.
58s combed
#t
#1
38s combed hosiery (cone)
YARN QUOTATIONS
This Week
Week Ago
Year Ago
p
p
p
23.4
23.2
20.0
25.2
25.0
23.0
27.4
27.4
25.0
30.0
30.0
27.5
39.0
38.0
36.3
28.7
28.5
26.0
29.2
29.2
27.5
33.0
33.0
31.0
28.6
28.6
::
::
32.5
32.5
1 1
42.0
43.0
41.0
51.0
52.0
48.3
38.5
38.4
37.5
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