Domestic Wool Slow,
Australia In Recess

GREELEY, Colo. —(USDA)— Domestic wool trading was slow in all areas. Unusually large seasonal wool supplies remain either in producers’ hands or in warehouses. Demand was light to very light. Continued imports of wool, top and finished goods at prices less than those for domestic products is limiting demand for domestic wool.

In Territory trading the past two weeks, Texas sold 80,000 pounds of 64's, original bag, some bellies out, at $1.70 delivered clean; 60,000 pounds of 1.5-2.3 inch 64's, original bag, ranged 52-66 cents; and 10,000 pounds of feedlot lamb wool, 1.5-2 inches, brought 47 cents.

The Virginia-North Carolina wool pools sold a total of 320,000 pounds; prices ranged from 43.5 to 47.5 cents on 48-56's. In warehouse trading a total of 620,000 pounds sold recently; graded 25 micron, staple, was $1.10 delivered clean; 27.8-29.3 micron, staple, 80-90 cents; 27.8-30.9 micron, staple, 65-70 cents.

In Texas recent sales of 138,000 pounds of mohair had spring kid $3-4, fall kid $4-5, graded and sorted yearling $2.35-2.50, and "other" at $2 with No. 2 at $1.70.

Australia and New Zealand markets were in recess. The last eastern market indicator was 593A cents per kilo clean. August futures contracts on 19 Micron wool closed at 913 with 23 micron at 480; October 19 micron contracts were 866 with 23 micron 468. Sales resume this week in Sydney, Melbourne and Fremantle. The current exchange rate for $1US is 60.9 cents Australian.

For the week ending July 30 a total of 1,107,423 bales of wool remain unsold in the stockpile.