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Wool Incentive Price
Increased for 67
The announced shorn wool incentive price of 66 cents a pound for the 1967 marketing year represents an increase of 1 cent a pound over the present level, H. S. Barksdale, Chairman, Agricultural Stabilization, and Conservation County Committee, has announced.
The 1967 support price for mohair has been set at 76.4 cents a pound, 0.6 of a cent a pound more than the present support price. The price of pulled wool will continue to be supported at a level comparable to the incentive price for shorn wool. As in previous years, shorn wool payments will be equal to a percentage of each producer’s cash returns from sales. The percentage will be that required to raise the national average price received by all producers for shorn wool up to the announced 66cents-a-pound incentive pricev Mohair payments will be determined in a similar manner. The Chairman explained that the support price for wool [or 1967 is fixed by a formula ig ,the Food and Agriculture Act of 1965. This’ legislation amended the National Wool Act of 1954 and extended the wool and mohair payment program through 1969. Under the ince n t i ve-price formula, the former support price of 62 cents is multiplied by the ratio of the average parity index (index of prices paid by farmers) for the most recent 3 years to the average parity index for 1958, 1959, and 1960. The Wool Act Requires support of mohair within a range of 15 percent below/above the comparable percentage of parity at which wool is supported. The 1967 mohair support price continues support at the legal minimum level. The 1967 marketing year is the 1967 calendar year.
92.4%