Domestic Wool Trading Slow,
Aussies Freeze Stockpile

GREELEY, Colo. —(USDA)— Domestic wool trading remains slow, virtually at a standstill in most areas. Demand was light to narrow by most buyers as wool processors continue to report lackluster business and a reduction in processing hours.

Producers and some warehouses are content to inventory the remaining balance of the spring clip as well as any new shearings this fall at current price levels.

In Territory trading the past few weeks: Idaho sold 95,000 pounds of 58-60's 12 month wool, staple length, including short and tender, at 40 cents delivered to the warehouse, 1997 clip at 32 cents; Wyoming sold 10,000 pounds of 24.5-25 micron, staple length, bellies out and untied, at 45 cents.

Recent Texas warehouse trading included 240,000 pounds limited 12 months 64's, staple length, original bag, at 45-52 cents, 6-8 month wools 1-2 inch length 27-52 cents, mostly 40-47 cents, lamb wool 64-70's, 1-1.5 inches, 38-52 cents, crossbred lamb wool at 30 cents.

The Duchess County, New York pool sold 35,000 pounds, delivered clean basis in square and film packs. Three to six-inch staple, 31.4 micron with low vegetable matter brought 82 cents; 2.5-6 inch 31.1 micron, low vegetable matter 76 cents; 1.5-2.5 inch staple 28.8 micron, 70 cents; 3-6 inch wool 26.3 micron, low vegetable matter, $1.05; 3-8 inch 33.7 micron, low vegetable matter, 85 cents; and black wool 3-8 inch staple, low vegetable matter, 31.7 micron, 40 cents. Warehouse trading totaled 120,000 pounds: 23.5-25 micron staple length brought $1.05-1.10 delivered clean; French wools, 23-24 micron, 2.7-2.8 inch staple $1 delivered.

Australia’s Minister for Primary Industries announced that Australia will privatize its wool stockpile starting in July 1999. All sales from this stockpile are immediately frozen pending legislative approval. The current government stockpile stands at 1,057,118 bales.

Australia’s eastern market indicator closed down five at 465A cents per kilo clean, the 19 micron futures contract for October closed at 685, for November 685, for December 690, for March 696, and for June 702. Wool International sold a total of 2438 bales, which left the unsold stockpile at 1,055,044 bales.

New Zealand’s market indicator closed at 402NZ, up eight cents. A total of 12,625 bales were offered and passings came to 22 percent.