Domestic Wool Quiet;
Aussie Stocks Frozen

GREELEY, Colo. —(USDA)— Domestic wool trading was at a complete standstill during the past few weeks. Demand remains light from all buying interests, and sellers show little interest as well.

During the past few weeks, 450,000 pounds moved in Texas to fulfill a previous contract to processor and export demand; the price was $1.835 clean, bellies out and untied, graded 64's staple.

The Australian government announced last week that the unsold stockpile of 1.1 million bales of wool is now "frozen" and will not be available for sale until the 1999 season, next August. This was done in the hope of reducing the available world supply of wool and stop the recent decline in prices.

In Australian wool trading, the northern market indicator closed up 13 cents to close at 568A. A total of 21,336 bales were offered, primarily good style wools, 20-22 microns. The southern indicator was up two cents at 545A on an offering of 25,532 bales, mostly good style wools of 22-25 micron. The western region offered 18,331 bales with the indicator closing up five cents for the week.

The futures market for August delivery of 21 micron wools closed up 12 cents at 582, October down 10 at 564, December down nine at 566 and February down 11 at 570.