OCR Text |
Show Expect Little Change In Wool Prices Demand Now Favorable Wool prices in the United States are likely to remain near the present pres-ent level during the next few months, the Bureau of Ag.icultur-al Ag.icultur-al Economics said today in its current cur-rent wcol situation report. Mill consumption has declined from the high rate in the early part of this year, it was reported, but supplies in the United States are still below ave'.age and demand continues relatively favorable. United Uni-ted States consumption of apparel wo:l, cn a. secured basis, in the first half of this year was 16 per cent larger than in the first half of 1936 and larger than in the same months of 'any year since 1923. Mill consumption the last half of the year is not likely to be as large as in the same months cf 1936. The Bureau's outlook for world wool production this year is for a larger production than in 1936. It was pointed out that the increased production will be partly offset at least by the small carry-over in the Southern Hemisphere countries. coun-tries. The amount of wool to be shorn in the United States this year has been estimated at about 367 million mil-lion pounds. This is an increase cf 2 per cent over 1936 but nearly the same as the average for the five years 1931-35. Total supplies cf wool in this country on July 1, though larger than a year earlier, weve smaller than in most other recent years. Utah's 1937 wo:l clip is largely in the warehouses of the national wool marketing corporation; or has been .consigned or s:ld to dealers. The clip was the lightest shrinking and highest quality in ten years. Prices for unsold wool is expected to be above prices received re-ceived in the field. |