Domestic Wool Slow,
Foreign Wools Lower

GREELEY, Colo. —(USDA)— Domestic wool trading was slow last week under light demand.

Seller interest was limited by those holding 1998 wool. Limited shearing was noted in the Pacific Northwest, Midwest areas and Texas again where weather permitted.

In limited Territory trading, Colorado sold 60,000 pounds of lamb wool, 1.5-2.5 inches, 19.1-22 micron, at 40-42.5 cents and crossbred 22-24 micron 31 cents grease; In Montana a few clips totaling 18,000 pounds 22-24.9 micron, staple length, brought 52-54 cents grease, an additional 118,000 pounds consigned to mills with the price to be determined later.

Warehouse trading included a total of 360,000 pounds on a clean delivered basis, 23.5-24.9 micron, staple, 90 cents, 24.9-27.8 micron, staple, 70-75 cents, 27.8-29.3 micron, staple, 70 cents, and 29.3-32.7 micron, staple 45-50 cents.

In a press release, a major processor indicated that seven plants would be closed, affecting 2900 employees in a comprehensive reorganization plan. In this plan, capacity would be reduced by 25 percent to make them more efficient and competitive in the world market for woolen products.

The Australian market indicator completed the week 15 cents lower to close at 502A cents per kilo clean. A total of 55,500 bales was offered with clearance at 86 percent. The 21 micron futures contracts for February closed up eight at 544, April up seven at 547, June up 13 at 560 and August up 16 at 573 cents per kilo clean.

New Zealand's market indicator closed down three cents at 397NZ cents per kilo clean, strong wool down two cents at 363, lamb wool down six cents at 370 and medium wool down two cents at 441. Finewool was not established. A total of 1567 tons was offered with passings at 31 percent.