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The support price for the 1978 Wool Program is $1.08 per pound for shorn wool. Currently, shorn wool is averaging 75 to 80 cents per pound. The final date for application is January 31, 1979.
The support price for 1979 shorn wool is $1.15 a pound. This price is a seven-cent increase from 1978. As in the past, shorn wool payments will be based on a percentage of each producer's returns from sales. The percentage will be that required to raise the national average price received by all producers for shorn wool in 1979 up to the support price of $1.15 per pound.
Wool Incentive Payments are disbursed because wool is recognized as a very necessary commodity which is not produced in a sufficient quantity in the United States. Therefore, this payment is disbursed to encourage the production of high quality wool.
Remember the final date to file application for payment under the Wool Incentive Program is January 31, 1979. Also, bring your receipts for shorn wool and unshorn lambs sold in 1978 to the Rappahannock County ASCS Office. Remember, the support price for the 1978 Wool Program is $1.08 per pound, and shorn wool is averaging 75 to 80 cents per pound.
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