The wool situation

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Material Information

Title:
The wool situation
Uniform Title:
Wool situation (1937)
Physical Description:
64 no. : ; 28 cm.
Language:
English
Creator:
United States -- Bureau of Agricultural Economics
Publisher:
Bureau of Agricultural Economics, U.S. Dept. of Agriculture
Place of Publication:
Washington
Publication Date:
Frequency:
monthly
regular

Subjects

Subjects / Keywords:
Wool industry -- Statistics -- Periodicals -- United States   ( lcsh )
Genre:
serial   ( sobekcm )
federal government publication   ( marcgt )
statistics   ( marcgt )
periodical   ( marcgt )

Notes

Statement of Responsibility:
United States Department of Agriculture, Bureau of Agricultural Economics.
Dates or Sequential Designation:
WOOL-1 (Jan. 1937)-Wool-64 (Apr. 1942).
Numbering Peculiarities:
No. 1 called new series.
General Note:
Title from caption.

Record Information

Source Institution:
University of Florida
Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
oclc - 02269655
ocm02269655
Classification:
lcc - HD9894 .Un33
System ID:
AA00011232:00009

Related Items

Preceded by:
World wool prospects
Succeeded by:
Livestock situation
Succeeded by:
Livestock and wool situation

Full Text

UNITED STATES DEPARTMENT OF AGRICULTURE
Bureau of Agricultural Economics
Washington

WOOL-27 March 10, 1939
utl~V FF L I
D. OCUMTS THE WOOL SITUATION N


Sunmary
u S DEPOSITORY
In e early months of the 1939 marketing season, which begins

about April 1, stocks of wool in this country will be smaller than a

year earlier rad a fairly strong domestic mill demand for wool is probable.

According to the Bureau of Agricultural Economics, however, developments

in foreign markets also will have important effects on the domestic

situation. The spread between domestic and foreign prices is now relatively

wide, and imports of wool have increased somewhat in the past 2 months.

The volume of wool sold on the Boston market was smaller in February

than in January, but prices of most grades were mostly unchanged during

that month and in early TMarch. In late February, new clip wcols were

offered for May and June delivery at about 1 cent per pound, grease basis,

lower than the current spot prices of similar wools.

Mill consumption of wool in the United States in January was some-

what smaller than in December but more than twice as large as in January

last year. January was the seventh successive month in which mill con-

sumpt ion exceeded that of the -ocrrespcndir.g month a year earlier.

World wool production in 1938, excluding production in Russia and

China, is estimated at about 3.4 billion pounds, not greatly different

from that of 1936 and 1937. A decrease of 6 percent in Australia was

largely offset by increases in other Southern Hemisphere countries.

Exports of wool from the Southern Hemisphere have been considerably larger

to date this season than last, and stocks of wool remaining in the Southern

Hemisphere are smaller than at this time last year. It is reported, how-

ever, that stocks of wool in foreign importing countries, except Japan, are
larger.







'.00L-27


RECENT DEVELOR.'ETS I:; THE DOi.ESTIC SITUIATIO1

SAL-'"'F:cLRU,;D.-Carry-over wool in the United States at the
bY--innir.n of the '1,9 marketing season was much larg,-r than a
ye earlier, chiefly as a result of the large imports in early
13.7 and reduced mill ccnsuniLtion in late 1937 and early 1958.
The average price of wool received by the producers at the
beginning of the season in April last year was about 45 percent
lower than in April 193". After reaching a very low level in
April domestic mill consumption increased considerably during
the r-Frinal r of 1938; imports were very small and stocks of
wool were red ce-. Prices of wool in this country have advanced
moderately since the early summer of 1938.

Wool consumption and prices also declined in foreign
countries in 1937 and in the early months of 1938 but the declines
were not so great as in the United States. Consumption of woNl
in foreign countries has increased some in recent months but there
has been no recovery in wool prices in foreign markets.

Prices about steady in February

Price quotations for most grades of wool on the Boston market showed
little change during February and the volume of sales was less than in
January. Ori.ir, -l '- fine territory wools sold around 70 cents per pound,
scoured basis, 1or Good French Combinr L-ngth the last week of February,
about the same as a month earlier. Prices of wool in the re-ase of this
description would be around 21-22 cents for heavy wool, shrinking 67-70
percent, .:rd around 24 cents for average wools shrinking 67 r:ercent.

New clip fine territory wools of good Fr-=n:h combine lenth was
reported to have been cff r- 3 in late February for delivery in the East
in I.y, and June at 64-66 cents, scoured basis. Using the same shrinkage
as on old wools, which were sellir, around 70 cents scoured basis in
February, the grease prices of the wools offered for future delivery in
Boston would be arounr.d LC-21 cents for heavy wools shrinking 69-70 percent
and arc.irni 22-23 cents for aver:-.-c wools shrinking 67 ;er.-ert. Thus it
a.;p: _rs.that the price in the grease of territory wools from the new clip
for J. livery in June were about 1 cent pr'-: pound ic-.:r than the current
spot prices of similar wools.

Q(ot tions on fine brizt.t d1--ir, fleece wools were 29-51 cents,
grease basis, at the end of Fe-tuary and for 3/8 blood combing 31-32 cents,
the same as a month earlier. Bright fleece wools 3/8 and 1/4 blood comb-
ing were quoted at 31-32 cents. It was reported that bright fleece wools
of 3/8 and 1/4 blood cor.irinf; from the new clip in country packed lots were
being of f r,-d for May and June delivery in the East at 28-29 cents per
ponr.d in the crease.


- 2 -






WOOL-27


Wool imports increase in January

January imports of apparel wool for consumption totaling about 6
million pounds, were the largest since August 1937. December imports of
apparel wool for consumption were about 4.4 million pounds, and in January
last year imports were about 2 million pounds. Imports for consumption
represent apparel wool entering this country for immediate consumption plus
wool withdrawn from bonded warehouses on which the duty has been paid*
Receipts of foreign wool in the United States in January were considerably
larger. than the imports fbr consumption, with a considerable quantity being
placed in bonded warehouses for later withdrawal for domestic use or for
reexport. Receipts of foreign apparel wool in Boston alone totaled more
than 8 million pounds in January*

Wool under Government loan

*According to a recent announcement by the Commodity Credit Corporation,
loans had been made on about 82 million pounds of wool up to February 11.
Loans had been repaid, however, on about 40 million pounds. Thus, as of
February.ll, the quantity of wool pledged as collateral under Government
loans totaled about 42 million pounds.

Mill consumption larger than year earlier

Mill consumption of apparel wool in January was somewhat smaller than
in December. But the weekly rate of consumption in January of 5,188,000
pounds, scoured basis, was more than twice that of January last year. The
aggregate consumption of apparel wool in January was 48.7 million pounds of
shorn wool (greasy shorn basis), and 7.3 million pounds of pulled wool
(greasy pulled basis). Comparable figures for January last year were 21.6
million pounds of shorn wool and 4.9 million pounds of pulled wool.

DOMESTIC OUTLOOK

Prospects for wool for the 1939 marketing season have not changed
since the February Wool Situation was issued when it was stated that nthe
outlook appeared more favorable than the situation prevailing in 1938."

From the standpoint of supply and demand conditions in this country
the situation is now considerably more favorable than a year earlier. At
the b.-innrin;n of the 1938 season in April, stocks of wool in the United
States wore relatively largo and mill consumption was at a very low level.
As a result of the high rate of mill consumption in recent months and the
relatively small imports of wool, stocks of raw wool in the United States
are now s.'allor than at this time last year. Prospects also are favor-
able for a continuation of the current high rate of mill consumption at
least through the first half of 1939. In view of the probability of a
stronger consumer demand this year than last it is expected that mill con-
sumption for the entire year of 1939 will be larger than in 1938. Domestic
wool production this year probably will not be greatly different from that
of last year,


- 3 -







".CC L-27


But wool prices in this country are influenced to a large extent
by changes in prices in foreign markets. In the early months of 1938 the
spread between Boston and London prices for somewhat comparable grades of
wool was relatively narrow and imports of wool in the United States were
small. Stated another way, the differential of Boston prices over London
prices was not sufficiently ireat to attract largo imports of wool into
this country.

Domestic wool prices advanced moderately after the early summer of
19.3 but forci-n prices in tcrms of United States dollars dclinr.c. This
iro. in price r-flected not only weakness in prices in foreign currencies
bu.t also the decline in the dollar value of the British pound. In early
February prices of fine wool in London in terms of dollars were the lowest
since early 1933, with the possible exception of a short period in the
spring of 1935. As domestic prices advanced and foreign prices d.clincd,
the spread between the two widened, and as a result ins.orts of wool in
January were substantially larger than in Doccober.

irozpocts for wool in foreign countries are rather uncertain. Stocks
of wool in the principal exporting countries are smaller than a year
earlier but stocks in the cniic importing countries, except Japan, are
lar,-. 1ill consumption in foreign consuming countries was reduced in late
1937 nd early 19-5 but not so much as in the United States. On the other
han-, the improvement in consumption in recent months has boon relatively
less in foreign countries than in the United States.

nic course of developments in the wool situation in foreign coun-
tries during the next few months will depend to a considerable extent upon
changes in the de:..-.nd for wool by foreign mills, which probably will re-
flect largely the changes in the general business situation abroad. The
recent stability and slight strength in the dollar value of the British
pound is a favorable factor.

Briefly summarized, it a,.,uirs that the wool situation in this
country in the early months of the 1939 markoti-.; season will be featured
by relatively snall stocks of wool in this country and a fairl: strong
domestic mill L r.-id fr wool. But in view of the present relatively wide
c;cul bet;ecn prices in domestic and forcir.n markets, developments in
foreign countries will be an important factor in the doncstic situation
for the next several months. A further expansion in foreign mill dcnand
for wool would d tb an important strengthening factor to the wool situation
in the United St -os.

.FOiZi;: SITUATION

Southern Homisohere sales

Thu volume of wool sold in Australia during January was the largest
of record for the month. Disposals were approximately 112 million pounds,
the bulk of which went to the United ;:i:ingdou and the Continent. Prices
of wool weakened somewhat during: the month with Austr.liian 70s -warp wool
';r.ir. 43.1 cents per pou-nd, clcan basis, delivered at Brandf.rd,


- 4 -






WOOL-27


-5-


compared with the December average of 44-4 cents. During February, prices
at sales in Australia were steady to higher.

Activity and sales in importing countries

Imports into the United Kingdom in January totaled 124 million pounds,
the largest monthly figure since January 1934. Wool imports retained for
consumption during the first 3 months of the importing season, November to
January totaled 214 million pounds or nearly 50 percent more than during
the corresponding months of last year. Mill activity has increased only
moderately and it is probable that stocks are being considerably increased
at the present time.

The first series of the London sales in 1939 closed February 3.
Prices of merino wools at the close of sales were about 5 percent lower
than at the end of preceding series in December. Crossbred wools, however,
wore reported to be as much as 10 percent lower. The second series of
the 1939 sales at London will open March 14.




Wool exports from five Southern Homisphcre countries to
January 31 of the 1938-39 season, with comparisons


Average.
Country Period 1 6 1937 : 1938 :1939 /
1932-36
: :Thousand Thousand Thousand Thousand
: pounds pounds pounds pounds

Australia V/ ...........:July Jan.: 522.1 506.5 429.7 525.8
Union of South Africa _/..: I : 133.1 125.7 105.9 139.4
How Zealand 2/ .........: 95.2 9.8.2 81.2 100.4
Total 3 countries .....: :750.4 730.4 616,8 765.6
Argentina 4/ ..........:Oct. Jan.: 106.2 130.9 57.5 141.0
Uruguay A.. ..p.......:. : 51.9 66.9 24.1 36.5
Total 2 countries .....: :58.1 197.8 81.6 177.5

p/ Preliminary.
2/ Estimates of Dalgety & Co.
j/ Official estimates.
_/ Commercial estimates supplied by the Buenos Aires office of the Bureau.






WOCL-27


WORLD TC'OL PRODUCTION

World wool production in 1938 apparently remained at or near the
high level of the 2 pr:c-fring years. The reduction of about 6 percent
in Australian production in 193g was largely offset by increases in other
Southern Hemisphere countries, in the Uniited Stsats and the United Kingdom.

In 193- world production, exclusive of the Union of Soviet Socialist
Republics and Chin.a, is t~ntetively estimated at 3.4 billion pounds, on
the basis .of reports for 33 countries wnich produced 89 percent of the total
in 1937. This is a d-crease of about 10 million pounds compared with
production in 1936 a.d 1937.

There was a definite upward trend in wool production from 1'23 to
1932, afw-r which there was a decrease for a few years. In 1935 production
again increased and since that year wool production has not changed greatly.
The average for the 5-year period l92t-32 was 14 percent larger than the
a'.'.ra; for the 5 years 1923-27. The average for the latest 5-year period,
1933-37, however, was only 1 percent above the 1928-32 average.

Production in the 4 principal fine wool producing countries I/ was
about 177 million rcJnis smaller ir 1C3S then in 1932 -whereas production in
the 3 c'-ief medium and coarse :0ool producing countries 2/ was 53 million
pounds l-rger. But in 193S the fine wool producing countries produced a
little over .-'. million .ourvns more than in 1923, wv-dle the medium and
coarse wool producing countries rroduced only 150 mil.licrn, .is more than
in 1923.

World oprn-'jction, including the Union of Soviet Socialist ?-publics
and C:-ina, is estimated at 3,710," .0,1*3 pounds for 1936 and for 1937
compared with an av-rT4: of 3,620,000,000C in the years 1931-35. The Union of
Soviet Socialist Republics and C'ina produce principally the car"-t t;.pe
of wool. (See tables of Torld vool production by countries, 1933-3 and
world production including and excluding Russia and China at end cf this
release.)

Unlit~_d St:-t-s wool production

Total production -" wool in the United States was estimated to be
43:,510,J..0 pc: .da compar-t d ith 7J2,,003,000 pounds in 1937. Fr.duction
of shorn wool in 1953 tota.-.d about 373 million purnds and rro'dut.tion of
pulled wool -:as about t~ million piu:,,Cs. Shorn-wool pro.-'u.tion in 1'73
'as about b million cou,' s larger than in 1937, with all of the incr:asc
in the sternn sheep States. Estimates of production and v_1u,_ cf shorr.
wool by States for 17? and 193~ are .-lvon in the following table.



1/ Australia, 3ritish South Africa, United States, United Kingdom.
2/ Arg"..'ir., 'hru.j.7r., New Zealand.


- 6 -









WOOL PRODIUCTI9] Il 1937 AND 1:86 BY S7TJS_
F-- -- -- _-_--- -.
SFhe'e/| Weight / Pric Value of sheept.? -ht, riceTValue of
STATE shorn per Pro, per pro- shorn per Pro- per pro-
& DIV. amber Lleece detion oun auction mber fleece i t .n IPound auction
0 L00 bs. (r .)Lb. Cents (000)Dol. (000) ts.. 'C' :L. *ents (7 "' D:.
Me. 46 6.4 294 35 43 6.0 258 21 54
N.H. 10 6.5 65 34 22 9 57 1 12
Vt. 22 7.0 154 35 54 22 6.7 147 21 -1
Mass. 7 6.1 43 34 15 7 .1 43 9
R.I. 2 6.0 12 34 4 2 6.0 12 22 3
Conn. 6 5.5 33 35 12 5 6.0 3 22 7
N.Y. 327 7.7 2,518 36 906 320 7.2 ; 461
N.J. 6 6.4 38 36 14 5 6.1 30 23 7
a. 4--1 7.6 3 192 36 1,149 412 7. 3.,. -
N.A. 846 7.5 _6,349 -35.9 2,79 825 7.1 :.-' _
Ohio 2,250 8.2 18,450 36 6,642 2,276 7.8 17,753 19 3,373
Ind. 705 7.5 5,288 36 1,904 7000 .0 4 0 18 882
Ill. 688 7.8 5,366 34 1,824 698 7.8 5,419 18 975
Mich. 1,065 8.3 8,840 36 3,182 1,043 7.7 8,031 18 1,446
Wis. 392 7.9 3,097 33 1,022 396 7.5 _2,970_ 18 535
E.N.C. 5,100 8.0 41,L41 35.5 14,.74 5,1 7.6 .5 7 11
Minn. 1,021 7.9 8,066 32 2,581 1,000 7-. ,C. 18 1,404
Iowa 1,200 8.0 9,600 33 3,168 1,228 7.9 9,71 18 1,746
Mo. 1,245 7.0 8,673 35 3,0C36 1,384 6.5 .973 19 1,705
N.Dak. 730 8.4 6,132 29 1,778 722 8.5 16 982
S,Dak. 1,006 7.9 7,947 31 2,464 1,07e 8.4 9,.;5 17 1,539
Nebr. 320 7.8 2,493 29 723 391 7.6 2..9C 15 443
Kans. 409 _3,148 30 944 485 7.4 3566 15 535
.Nazi._ 4093 7.7----------------------------
... 5,1 46,05_ 31.9 14,694 4 6,288 7.7 4ij88_ 17.3 a_ ,.5
Del, 3 6.5 30 37 7 3 6.5 20 22 4
Md. 72 6.1 439 37 162 70 6.0 420 22 92
Va. 360 5.2 1,872 38 711 364 4.. ,- 7 22 384
W.Va. 503 5.3 2,666 38 1,013 503 5.0 2,515 ;3 578
N.C. 54 5.0 270 33 89 54 5.1 275 2 60
S.C. 9 4.2 38 33 13 9 ,.: 39 2 9
Ga. 27 3.4 92 30 28 27 3.6 97 22 21
Fla. 33 3.1 1_02 33 34 32 3.3 06 22 _
S.A. 1,061 5.2 499 37.4 2,057 1 ,062 4.9 2-.4 171
Ky. 967 5.4 5,222 38 1,984 i 1,021 5.2 5,-- 21 1,115
Tenn. 350 4.4 1,540 36 554 349 4.4 1,5 3 21 323
Ala. 37 3.7 137 30 41 42 3.6 151 22 33
Miss. 52 3.2 166 30 50 62 3.3 2 Ark. 60 4.8 288 32 92 62 4.4 273 18 49
La. 320 3.5 770 30 231 225 3.4 765 20 153
Okla. 183 8.5 1,556 28 436 228 8.5 1,938 16 -1:
Tex. 9,280 _8.2 75835 31 23,509 9,742 8.1 7935 16 654
S.C. 11,149 7.7 85514 31.5 25.897 l,'1 : 7.5 89 -82 18 678
Month. 2,540 9.8 24,892 32 7,965 2,550 9.9 25,245 19 4,797
Idaho 2,010 9.4 18,826 33 6,213 1,920 9.1 17,463 19 3,31i
Wyo. 3,130 9.7 30,361 31 9,412 3,236 9.7 31,.'-3 18 5,650
Colo. 1,615 8.2 13,243 32 4,238 1,588 8.1 1?,862 18 2,315
N.Mex. 2,231 6.9 15,394 28 4,310 2,169 7.1 15, 00 18 2,772
Ariz. 792 6.4 5,050 30 1,515 761 6.5 0.1 18 907
Utah 2,2,5 8.6 19,221 31 5,959 2. 7 .' 1,9l" 19 3,783
Nev, 744 7.9 5,878 30 1,763 759 7.8 5,92 19 1,1.
Wash. 649 9.0 5,819 30 1,746 644 9.3 5,995 18 1,079
Oreg. 2,035 8.6 17,501 32 5,600 1,923 9.1 17,499 19 3,325
Calif. 3,860 6.7 25L962 31 8,0-:8 3,900 7.2 ;. 37 20 5.647
WEST 21,841 8,3 182 14 31.2 56,769 2,707 8.5 1;C959 19. 34 718
U.S. 45,928 7.98 _366609_ 32.0 117,27,0 46,726 7.98 372,810 19.1 71 378
U.. s.3 66,200 .. .. 6700 -
if Includes sheep shorn at commercial feeding yards. 2/ For Texas and California
the weight per fleece is the'emotut of wool' shorn per sheep ain lamb shorn during
the year. j.ulleBd wool.
TABLE I






00."OOL-27


Tab:e 2.-"'1>1: Estimatod world wool production, 1933-38


Continents nud countries


NORTH AND C'TRAL A:.:E.I
AND "7EST INDIES:
U--ited States -
Shorn ..............
Pulled 1/ .........
Total............
Canada ...............
..:'ou..i l d-ld 2/ ......
Mexico ...............
Ha,-dii ...............
Central America & W. I


: 193


Mill


3 1934 1935 : 1936 : 1937 Prel.

ion Million Million Million Million Million


po11ds pounds poui d3s pounds


pounds pounds


..... 374.2 370.3 364.7 3 0.3 366.6 372.8
.....: 4.2 0o5 66.0 66 66.2 63.7
19.3 4130.5 7 2c.W5 2 .5
.....: 19-3 19.5 19.4 18.9 19.0 2/19.3
.....: 0.1 0.1 0.1 0.1 0.1 ---
.....: (9.6) 3/10.3 4/(10.3) 4/(10.3) 10.3) ---
..... (0.2) (0.2) (0.2) (0.2) (0.2)
idies: (o.I) LO..-. 1 ___o1- (01)_Lo ."


Total North & Central :
America & West Indies : 47_. 461.0 460.8 456.1
SOUTH A..i:ICA:


Peru 5 .................... 11.3 11.2
Bolivia 2/ ................ : (3.9) (3.9)
Chile .....................: 6/25.7 6_/28.7
Brazil 3/ ................: 35.3 36.4
Ur. Ja; 5/ ................: 104.7 119.0
Argentina .................: 8/364.0 _/34L.0
Falkl'-J Islands ..........: 4.0 4.0
Other South America ....... :_ (12.0) 12.0)
Total South America ...:__ .9 53.2
JOP2 s


10.1
(3.9)
6/25.4
37.5
113.0
9/364.o
4.2
(12.0)
570.1


12.3
(3.9)
1/28.4
37.5
116.2
9/373.0
4.0
,(12.0
r. Z7. 3


462.7


13.9
(3.9)
2/30.6
(37.5)
116.3
9/365.0
4.0
(12.0)
583.2


13.9
---


121.0
9/375.0
4.6


Iceland ...................: 2.1
-.Egl_,d and Walc-s ......... 90.0
Scotland .................. 27.5
northern Ireland .......... 2.4
Total United Kingdom ..: I.0...
Irish Free State ..........: s
i: r':faR7 ....................: 2/ 5.
S" --d.den 2/ .................: 1.7
Deniark ................... 0.9 2/
!I therlands ............... (2.0) 2/
Belgium ...................: (0.8)
Fra e / .................. 37.0
Spa. y .................. t 67.6
Po.r sal ..................: 7.6
Ita. 3] ..................s 39.0
Switzerland ...............: (0.4)
Germany ................... 30.0 2/
Austria ...................t (1.2) 2/
Cr.c0-olovaka 3/ .........: 2.0
H.X;- .-. ...................: 9.3
reiecivia 2/ .............: 30.0
Greece 3/ ................. 16.0


2.0
s5.0
24.8
2.5
L12.3
17.0
6.0
1.3
0.9
3.1
(0.8)
36.4
(68.0)
7.2
38.1
(0.4)
29.8
1.2
2.1
11.0
31.1
16.7


1.9
79.0
24.0
2.6
10 .
1i.5
5.7
1.3
0.9
2/ 3.3
(0.8)
36.8
71.0
7.2
37.5
(0.4)
2/ 30.7
1.1
2.2
13.0
32.1
17.3


1.8 1.6
78.0 77.0 81.0
24.0 2/ 23.8 2/ 24.9
2.6 2/ 2.6 2/ 2.8
104.6 1053.4 __ 10~l
17.6 2/ 16.4 2/ 17.3
5.9 5.9 6.0
1.3 1.2 ---
0.9 2/. 0.9 ---
S3.2 2/ 3.0 ---
(0.8) (o.)
38.4 39.7 40.5
(71.0) (71.0) ---
9.5 (9.5) ---
36.3 2/ 37.7 2/ 39.2
(0.4) (0.4)
2/ 34.5 2/ 38.1 2/ 41.2
1.1 1.1
3.0 3.1 2/ 3.3
14.6 15.0 17.6
33.3 34.6 35.-
i.3 2/ 18.6 2/ 18.7


Continued -


_~


I


~"L~


- 8 -


*..


CA :






WOOL-27


Table 2.- Wool: Estimated world wool production, 1933-38 Cont'd.


Continents Pnd countries


EUROPE Cont'd.
Albania.................... :
Bulgaria .............. ..... :
Rumania /.....................:
Lithuania....................
Latvia......... .. ..........
Estonia.....................,
Poland 2/....................
Finland............,......... :


: 1933

:Million
:pounds


4.2
21.9
61.5
3,8
2/ 41
2.2
9.6
3,6


1934 : 1935 : 1936

Million Million Million
pounds pounds pounds


4.3
23.2
68.0
38O
4.6
2.1
9.6
3,6


4,5
23,2
60.1
3.8
5,3
2,0
10.8
3,7


4,7
23.5
61,0
2/ 3,7
5,3
2,3
11.1
3,7


Union of Soviet Socialist
Republics.................: 1 40 130.0 2/1600 2_)00.0
Total Europe excl. 504.6 504.6 498.7 511.8
Soviet Union........... _


1938
: 1937 : 1938
: 7 : Prel.
Million Million
pounds to'unds


5,0
22,7
(62,0)
3,7
5,6
2,5
11.7
(3,7)


23.0
2/63,8
/ 3,6
2/ 5,7
2.5
12.5


2/200.0
518.9


AFFICA:
Morocco....................... :
Algeria 2/.................. :
Tunisia / ...................:
French West Africa and
French Sudan .2/.............:
Egypt 2/..................... :
.British-South Africa 10/.....:
Others...........................
Total African countries....:
ASIA 11/:
Turkey............. ... .......
Iraq................ ..... .. .
Palestine....................,:
Iran (Persia)...............:
Syria........................
Afghanistan.................
India ........................
China l_ .................... :
Others............ ...........
Total Asiatic countries
excl. Soviet Union & China:
OCEANIA:


30,9
39.3
5,2


29,1
41.2
5,5


33,4
43.6
5,5


13,4
47.9
5,2


7,3
6.8
5,8


2.6 2.5 2,2 2,3 (2.3)
5,4 5,6 5,7 6,0 (6,0)
275.2 210.0 237.8 264.0 233,0
(4.0) (4.0)2979 32 (42 32._ )
3'2.6 297.9 332.2 362,8 335.2


34,3
16.3
1.0
47.0
9.3
(15.0)
87.1
80.0


30,9
17.7
0,7
47.0
9.8
(15.0)
87.7
80.0


S(1.0) (1.0)


44.5



-4o.5


35.3 48,9 54,2 2/ 58.5
18.5 21,5 17.2
(0.7) 0.7 0.8
50.0 12/50o0 12/ 50.0 12/ 50.0
6.8 8.4 8.0 6.4
(15,0) (15.0) (15.0)
84.3 84.3 84.3
80.0 80.0 80.0
(1.0) _(10)___1!0)L


211.0 209.8 211.6 229.8 230.5


Australia..................: -5.9 1,015.4 971.1 982.8 1,010.0 1/9490.O
New Zealand 151..............: 289.6 265.0 304.3 302,9 296.8 305.0
Other........................: 0.1 0.1 0.1 0.1 0.1 0.1
Total Oceania..............: 1,285.6 1,280.5 1,275.5 1,285.8 1,306.9 1,245.1
World total all countries
excl. Soviet Union and :17
China 16/................ 3,390.0 3,320.0 3,350.0 3,430.0 3,430.0 ,420.0
World total incl. Soviet :
Union and China L6/.......: 3,610.0 3,530.0 3,590.0 3,710.0 3,710.0

Continued -






WOOL-27 10 -


Table 2.- Wool: Estimated world wool production, 1973-3s Cont'd.

This table :-ncluid-s wool shoirn duri~c the calendar year in the Northern
Hemis'ihere an:d that shorn dn'ing the season begi~nnin- July 1 or October 1 of
the given calendar :ear in the Southern Hemisrhere. Pulled wool is included
in the total for nm ., important countries at its grease equivalent. Figures
in parentheses, interpolated or carried forward.

/ Published as reported by wool pulling establishments and is mostly ".7shed.
2/ Estimates ba.scd cn sheep numbers at dapte nearest shearing time'and other
available i;'ormation.
j/ Revisions based on recent census fig-res of wool prod'ctl Ion orh of sheep
numbers.
4/ Zeported mill. consumption of domestic wool grease equivhleht was" as' follows
in millions of 7ounda, 1 Y7, 6,.5; l193, 5.1; and 1937, T70.
?/ Estimates based on exports alone or exports, stocks, and domestic consumption
and any other. available information.
6/ Estimates based on reports of production in MEg1llnr.es T-rritory where over
50 percent of C'G :1an wool is prodiiced.-
7j Censn s.
8/ Estimates of the ArMgestine? Ministry of Agriculture; subject to revision.
/ Estimates supplied by the Buenos Aires office of the Uniftd States De'artment
of Agriculture. The-e are estimates of the Buenos'Aires Fdrn'c' of the First
:I-tional Bank of Boston. The fi-arc for 1937 has'beei revised on'the basis
of actual exports.
10/ Estimates from official South African T7o-l and Mohair Bulletin 1935 and
current estimates of the South African Department of Agriculture. In
addition, pulled wool was estim:,td at 21,800,0,,0 pounds in 1'77.
11 Estimate; for Asiatic countries roufh ano.rox:imations ohly.
12/ Quantit- for commercial purposes estimated as follows in millions of pounds;
1936, 33.0; 137, 35.0; and 193S, h4.0.
13/ Estimates based on sheep numbers 1934---3. The Chinese Economic Journal for
June 1937 p. 658 gives an estimate of 70 to 80 million -pounds annually.,
14/ Dcc-mb.?r estimate of Australian wool selling brokers and wool gro-:ers
converted to pounds, grease equivalent.
15/ Revisions tascd on more exact c:-.version of pulled and washd.d wool to a
crease basis.
16/ Totals rounded to tens of millions. As few countries publish official wool
product ion figures, product ion for n'ar.y countries has been estimated on the
basis of material avainlale. In some cases reliable commercial estimates
have beer: 1.e4. or estimates of the imperial Economic Committee. See footnotes
for individual countries.
171 Estimate base on reports for 33 countries which produced "9 percent of the
world production, excluding Soviet Union and _hina, in 1937.






WOOL-27


Table 3.- Wool: World production, 1921 to date l/


Production
excluding
Soviet Union
and China
Million
pounds


s











..


4
1 _/


Soviet :
Union


Million
pounds


300
240
250
290
320
350
370
390
400
300
210'
i40
146
130
160
200
200


: Production
China : including
2/ 3/ : Soviet Union
__ : and China
million Million
pounds pounds


90
90
9o
90
90
so

gO
80

80
so

o0
80
80
80
80
80
80

80


3,050
3,030
2,990
3,200
3,360
3,560
3,610
3,740
3,760
3,680
3,680
- 3,680
3,610
3, 30
3,590
3,710
3,710


1j These are the same estimates published in the Wool Situation August 9, 1938
rounded to tons of-millions, except that 1936 and 1937 have been revised.
2/ Unofficial estimates bF'--d on official estimates of sheep numbers, 1934,
1935 and 1936. The Chinese Economic Journal for June 1937, n. 658 gives
an estimate-of 70 to 80 million pounds annually.
3/ Exports are not a reliable index of production during this period owing to
the unsettled conditions in China,
4/ Estimates based on sheep numbers and average yield as derived from official
estimates.
5 Preliminary.
/Estimate based on reports for 33 countries which produced 89 percent of the
world production, .excluding Soviet Union and China.


Year


1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938


- 11 -


2,660
2,700
S2,650
2,820
2,950
3,130
S3,160
3,270
3,280
3,300
. 3,390
3,460
3,390
3,320
3.350

3,430
3,420


I






-C'0L-27 12 -

rable 4.- Prices of wool per pound in s:cecified markets and prices of
textile raw materials in the United States, selected periods,
1937-39


Av~rage


1938 : 1939


Market and description


Poston:
Territory combing, scoured
basis 64s, 70s, 80s (fine) ....:
56s (3/8 blood) ...............:
46s (low 1/4 blood) ...........:
United States :
Farm price, 15th of month
grease basis ..................:


1937 1938 : Feb. : Dec. : Jan. : Feb.
: Cents Cents Cents Cents Cents ents


101.9
87.1
72.1


70.4
58.9
52.4


70.6
60.0
51.5


71.9
59.8
54.2


72.2
60.8
54.0


73.8
61.0
54.0


32.0 19.1 20.3 20.2 20.0 20.2


Loildon: j/
Average uu.ality, clean cost / :
70s ...........................: 62.1
56s ..........................: 46.3
46s ....................... : 39.5
Bradford: 3/
Scoured basis -
64s warp ......................: 64.7
50s .............. ..... .... ...: 43.2
Australia:
Average price at selling
centers, grease wool 4/ .......: 24.7
Sydney (delivered bradford)
70s warp, clean basis 5/ ....*:6/ 67.5
Union of South Africa:
Aver -ce export price greasy
wool ..........................: 25.1
Price at scllin centers, 70s
warp, clean cost 8/ ........:9/ 63.2
Argentina Euenos Aires
Coarse crossbred, greasy l0/...:11/ 21.7
Urucuay I'ontovideo
Crossbred, greasy 13/
Fine 50/56s-60s ...............:/ 36.6
Coarse 32/3os-44s .............:1/ 28.2
United States:
Textile fibers -


Wool, territory fine staple 15/:
Cotton, 7/8 Middlini l6/ ......:
Silk, Japanese 13-15 17/ .....:
Rayon, .r.-, 150 denier 18/...:


42.4
31.4
27.1


43.9
33.5
29.3


38.4
29.7
26.3


44.2 42.8 42.8
28.2 26.1 29.2


37.0
28.2
24.8


37.5
27.3
23.9


42.9 42.0
26.3 .27.4


17.6 20.1 17.1 17.1

7/48.1 51.o 44.4 43.1


16.6 17.6 17.3 15.9


6/46.3 48.8


12/15.0


16.4


42.0 41.0

12.9 12.9


18.8 20.7 18.0 17.8
17.0 17.8 15.8 15.6


101.9 70.4 70.6
11.22 8.58 8.92
186.0 170.6 159.2
62.2 52.2 54.0


71.9
8.45
180.9
51.0


72.2
8.54
190.0
51.0


73.8
8.52
211.4
51.o


Continued -






WOOL-27


- 13 -


Table 4.- Prices of wool per pound in specified markets and prices of
textile raw materials in the United States, selected periods,
1937-39 Continued

Foreign prices have been converted at prevailing rates of exchange.
Yearly avcra-es are averages of monthly prices except United States farm
price which is a weighted average.

,/ Average of quotations for each series of London sales reported by the
London office of the Bureau. For months when no sales were held, figures are
interpolated.
STop and noil in oil.
3/ Quotations reported about the 25th of the month by the London office of
the Bureau,
4/ Reports of the National Council of Wool Selling Brokers.
5/ Monthly averages of weekly quotations from the Wool Record and Textile
World, Engl ald.
6/ 8-month average No quotations May to August,
7/ 9-month avcraog. No quotations June to August.
8/ South African Alinistry for Agriculture.
9/ 10-month average. No quotations July and August.
10/ Wools of South and Southeast Buenos Airos Province. Revista Quincenal
do Procios Salaborry Barcotqho & Cia. ..
11/ 74-onth av.rajoe No quotations April to Norvember.
/ 11-month average. No quotations for October.
i1/ Bolatin do Hacionda, Uruguay.
1 6-month average. .No quotations May to October.
15/ Scoured basis at Boston.
TI/ Average at 10 markets.
17/ 78 percent white at Now York, Bureau of Labor Statistics.
18/ Bureau of Labor Statistics.




UNIVERSITY OF FLORIDA

3 1262 0886i1 1l5777
3 1262 08861 5777


- 14 -


United. States: Wool imports, consumption and machinery
activity, specified periods, 1936-39


: 1936 : 1937 : 1938

: 1,0o0 1,c:0 1,o060
: pounds pounds pounds


Jan.
1938
1,000
pounds


Dec.
1938
1,000
pounds


Jan.
S1939
1,C00
pounds


Imports for concuaption, :
actual weight: 1/
Apparel ...............: 110,712
Finer than 40s ........: 84,759
Not finer than x 0s ....: 25,953
Carpet, inclu.iling
camels hair ...........: 143,276

Consumption, scoured basis:
2/ :
7'eelly aver- e -
Ap.arci ..............: 5,351
Carp et ................ 2,02 9
Aggregate -
Ai:parel ...............: 278,258
Carpet ....... .........: 105.5C 4


150,160
126,601
23,559


30,011
12,443
12,369


172,091 71,908


4,772
2,023


4,143
1,225


24',121 219,565
105,197 64,'45


2,068
1,517
551

2,654




2,5.-2
734

12i709
3,672


4,371
2,751
1,620


6,099
3.849
2,250


13,649 .15,669




5,938 5,188
1,900 1,957


29,688
9,501


25,941
9,704


:Percent percent Purcent Percent


F recent Percent


Machinery activity: 2/
(40-hour shift) :
.orsted combs ........:
'orsted spindles .......:
Woolen z:indles ........:
Looms, bro-i ,.. ..... .:
Loon:. narrow ..,,...,:
Carpet and rug looms ,..:


Import figures from official records of the Bureau of
Commerce; consumption and machinery activity from the


Foreign and Domestic


Bureau of the Census.


1/ 'eil.t of greasy, scoured and skin wool added together.
2/ Fii.urs for ec.-.b,2r 1937 and IIovernber 1933 based on 4 weeks, December 1938
on 5 weeks; 1936 and 1937 totals based on 52 weeks, 1938 totals on 53 weeks. No
adjust..;o:t made for holidays.
Y/ Percent of maximum single shift operated. Maximum single shift equals
machinery in place for operation times 40 hours per week.


*7100L-27


'Table 5.-


Item


121.1
83.5
118.2
98.9
51.9
63.3


115.2
32.2
107.8
97.2
51.0
71.3


93.8
66.6
76.6
70.1
23.2
47.1


65.7
50.5
64.3
67.0
28.3
35.2


143.7
113.1
100.2
102.1
30.4
64.0


123.8
102.3
100.0
110.6
29.2
67.9


___