Publisher's Synopsis
Excerpt from Wool Situation, Vol. 96: August 1971
World wool prices have shown modest recovery in recent months, after sliding to very low levels. With a continued firm tone expected in world markets this fall and winter, prices of domestic wool should improve a little. U.s. Wool production as estimated in July will total slightly less than last year. Domestic wool mill activity, which trended downward during 1970, and then stabilized this spring, may display some recovery in this year's closing months, given some pickup in the general economy.
Growers' prices of shorn wool likely will pick up a little in the months ahead. But so far this season they have run sharply below a year earlier due to weakened demand conditions. The season-average price this year may be around 25 cents a pound, grease basis, about a dime below 1970.
U.s. Production of shorn wool this year will total about 155 million pounds, grease basis, 4 percent less than 1970. The number of sheep shorn is declining 2 percent and fleece weights are averaging lighter. Wool production is declining a little more in the Native wool States than in the 11 Western States, Texas, and South Dakota.
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