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AN incentive payment rate of 61.1 percent of 1975 marketings of shorn wool was announced April 6 by the U. S. Department of Agriculture. The announced payment rate is based on the difference between the national average price of 44.7 cents a pound received by producers during 1975 and the previously announced incentive price of 72 cents a pound. Incentive payments to wool growers are required under the National Wool Act of 1954, as amended.
The 1975 payment rate compares with the 1974 rates of 21.8 percent. Payments of 1975 marketings of wool will be about $40 million compared to payments of $15 million on 1974 marketings.
A grower’s payment on 1975 marketings is determined by multiplying the net dollar return from the sale of wool by the payment rate of 61.1 percent. This percentage method of payment is designed to
96.3%