| Show Extension Economist Reports Better Wool Prices Steady and slightly better wool prices are in prospect for early 1939 according to Dr O. O J. J Wheatley Wheatley Wheat- Wheat ley ey Utah State Agricultural college college col- col lege ege extension economist Substantial Substantial Substantial Sub Sub- price increases seem un- un unless some unusual development development development develop develop- ment stimulates world wool markets says Dr Wheatley In the first half of ot 1938 the spread between domestic and foreign foreign foreign for for- eign prices was considerably less than tariff and Imports of wool into the United States were very small With the Ule recent rise nse In wool prices the spread has widened so that at present it is not much less than the tariff tarU A Anew Anew Anew new rise In domestic wool prices will stimulate foreign imports uness unless unless un- un less ess foreign prices rise a corresponding corresponding corresponding corre corre- amount Recently a somewhat new Influence in influence In- In fluence in wool prices developed Dr Wheatley points out This Is the influence of the fluctuating value of foreign money A decline in the value of foreign money In relation to the dollar will encourage encourage encourage age wool Imports If foreign currencies currencies cur cur- rise in relation to the dollar dollar dollar dol dol- dol- dol lar wool Imports will wUl be aged The demand for wool In this country continues to improve and 1 mill mUl consumption in 1939 Is expected expected expected ex ex- to exceed that of 1938 If Imports remain small domestic consumption Is la likely to result in moderately reduced stocks of wool in the United States by spring Stocks of wool In most foreign countries except Japan apparently apparent apparent- ly are somewhat larger than a year ago However prospects point to a decline in wool production Inthe in inthe inthe the southern hemisphere during 1938 and 1939 which may offset In to part this large carryover says I Dr Wheatley |
