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Wool Support Prices
The U. S. , Department of Agriculture today announced an incentive price of 72 cents a pound for 1971 marketings of shorn wool and a support price of 80.2 cents a pound for mohair. Both figures are unchanged from the 1970 levels.
An extension of the authority for the wool and mohair price-support program through Dec. 31, 1973 is contained in the Agricultural Act of 1970. The new legislation amends the National Wool Act by requiring that support prices shall be at the above levels for each of the three marketing years through the end of 1973.
Pulled wool will continue to be supported at a level comparable to the incentive price for shorn wool through payments on unshorn lambs.
Shorn wool payments will be based on each producer’s returns from sales. The percentage will be that required to raise the national average price received by all producers from shorn wool up to the announced incentive price oi 72 cents a pound.^For example, payments on 1969 marketings, which began in April, were made at the rate of 65.1 percent of the dollar return each produce) received from the sale of shorr wool. This percentage was based on the differences between the incentive price of 69 cents and the national average grower price of.41 Jjheents a pound.
Mohair payments will be
91.9%