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:
AA00011232:00011

Related Items

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


This item is only available as the following downloads:


Full Text



UNITED STATES DEPARTMENT OF AGRICULTURE
Bureau of Agricultural Economics
Washington

WOOL-29 May 9, 1939

UNIV OF FL LIB HE WOOL SITUATION
SUMNT D PT

[D U-- -

U S DEPOSITORY

The wool situation has not changed materially in the last month. Domestic

supply and demand conditions are relatively favorable, but price changes will

continue to depend to a considerable extent upon foreign market developments,

reports the Bureau of Agricultural Economics.

Prices of new clip wool now arriving on the market are slightly higher

than a year earlier. In view of the relatively small carry-over into the current

season, and prospects for a fairly high level of mill consumption in 1939, the

outlook for disposal of the clip appears favorable. Prices of crossbred wool

at the London sales which opened May 2 were higher than for the previous sales

in March, but prices of other kinds of wool were about the same as in March.

The spread between domestic and foreign wool prices thus far in 1939

has been considerably wider than in early 1938. Reflecting this wider spread,

United States imports of apparel wool in the first quarter of 1939 were much

larger than a year earlier, and larger than in the corresponding period of any

of the 5 years 1931-35. But the 1939 imports were smaller than the relatively

large imports of 1936 and 1937. The first quarter of the year is usually the

season of largest importation.

Stocks of apparel wool held by United States dealers and manufacturers

on April 1 totaled 172 million pounds, grease basis. In addition, the Department

of Agriculture estimates there were 6 million pounds of wool from the 1938 clip

on farms and ranches and in country warehouses in the 13 Western sheep States,







WOOL-29


making a total of 178 million pounds. Total stocks on April 1 were about 58

million pounds smaller than a year earlier and smaller than the April 1 average

for the 5 years 1934-38.

Mill consumption of apparel wool in the United States continued high in

March. Consumption on a scoured basis for the first quarter of the year was

almost twice ag large as a year earlier but was smaller than in 1936 and 1937.

Orders for men's wear fabrics held by mills late in April were reported by the

New York Wool Top exchange service to be twice as large as a year earlier when

orders were small.

It now appears certain that the carry-over of wool into the 193.9-40

season will be below the average of the last 5 years in most Southern Hemisphere

countries. Stocks in European countries are fairly large, but mill activity is

increasing in these countries and the continued expansion of rearmament pro-

grams favors the building up of stocks of raw wool in consuming countries.


DOMESTIC SITUATION

BACKGROUND.- In the spring of 1938 stocks of raw wool in the
United States were r latively large, mill consumption was at a
low level and prices of wool were the lowest since the early
months of 1935. Wool prices in foreign markets also were
relatively low, but the spread between domestic and foreign
prices was considerably less than te tariff and United States
imports were small.

The Federal Government loan program for wool producers,
approved in March 1938, was an important stabilizing influence
on domestic wool prices in the early months of the 1938 market-
ing season. After reaching a low point in April, domestic mill
consumption increased rapidly during the remainder of 1938; stocks
of wool were reduced and prices advanced moderately. Prices of
wool in foreign markets showed little change after the spring of
1938 but the decline in the exchange value of the British pound
tended to lower quotations for foreign wool in terms of United
States dollars. The decline in foreign prices in terms of dollars
and the advance in domestic prices resulted in a widening of the
spread between Boston and London mqotations in the last half of
1938 and United States wool imports increased.


- 2 -






WOOL-29


Wool prices largely unchanged in April

Following the decline in prices of spot wool on the Boston market in
March (1939), quotations re;nained largely unchanged during April. Average
prices for the month were below the March average, but prices of most wools
were slightly higher than a year earlier. Sales at Boston were small in
the first half of April but increased toward the end of the month. New clip
wools for future delivery were sold in considerable quantities in April.
Spot wools continued to command a slight premium over wools offered for
future delivery.

New clip bright fleece wools in mixed lots of 3/8 and 1/4 blood grades
for future delivery wore sold at 26-28 cents a pound, grease basis, in April -
largely unchanged from a month earlier. In April last year, similar wools
from the 1938 clip were offered at.25-26 cents a pound. Spot prices of graded
combing 3/8 and 1/4 blood bright fleece wools at Boston averaged 28-29. cents
a pound, grease basis, the last week of April this year compared with 28-30
cents a month earlier and 26-28 cents a year earlier.

Sales of graded territory wools in April were chiefly of the finer
grades. Spot lots of original bag fine territory wools of good French comb-
ing length sold at 64-66 cents a pound, scoured basis the last week of April
compared with 65-68 cents a month earlier and 64-65 cents a year earlier.
Similar wools of the new clip available for immediate shipment from the West
could be obtained at 63-64 cents, scoured basis.

The United States average price of wool received by farmers on April
15 was 19.7 cents a pound compared with 20 cents on March 15 and 18.5 cents
on April 15, 1938.

Stocks smaller than a year earlier

Stocks of apparel wool held by United States dealers and manufacturers
(exclusive of wool afloat) totaled 172 million pounds, grease basis, on April
1, 1939 according to reports to the Bureau of the Census. In addition, the
Department of Agriculture estimates thete were about 6 million pounds of
domestic shorn wool of the 1938 clip on ranches and farms and in local country
warehouses in the 13 Western sheep States. Stocks in all positions totaling
178 million pounds on Aoril 1, were about 58 million pounds smaller than a
year earlier and 16 million pounds smaller than 2 years earlier, but were
about the same as on April 1, 1936.


- 3 -





WOOL--29 4 -


Stocks of apparel wool, grease bnsis, on hand in the United States,
April 1, 1938 and 1939

Item 1938 / : 1939
M: Mil.lb. Mil lb.
Stocks reported in hands of dealers and
manufacturers ................................: 217 180
Stocks of foreign wool afloat / .. .................: 3 8
214 172
Stocks held on farms and ranches and in local
warehouses in 13 Western sheep States......: 22 6

: 236 178
Decline from previous year .......................... 58

Compiled from Bureau of the Census Wool Stock Reports.
I/ Statistics for 1938 are as of March 26.
2/ Although stocks of foreign wool reported afloat are a part of the existing
supply they are included in imports at a later date. Because of this they have
been deducted from the reported figures on stocks.


The decline in stocks indicated by these figures agrees auite closely
with the change indicated by available figures on supply and consumption for
1938. If production and general imports for the year ended March 31 are
added, and if mill consumption of wool for the year is deducted from this
total, the result should be about equal to the change in stocks. Since mill
consumption of wool in the 12 months ended March 31, 1939 exceeded the total
production and imports for the year by 61 million pounds, this estimate
indicates a slightly greater decline in stocks on April 1 compared with a
year earlier than is indicated by figures of reported stocks.

Production, imports and mill consumption of a-.pprel wool, grease
basis, in the United States, 1935-38
Item :_ Year b n in- Agril 1
____13 1196 1937- 9 1a8 Prel.
: Mil.1b. Mil.lb. Mil.1b. Mil.Ib.

Domestic production, shorn and pulled,,,,; 431 427 433 41
General imports, mostly greasy /......... 8 164 60
Total new supply .............. ....:: 591 493 83
Mill consu mtio ........................... 67____ 582 407 2/ 544
Difference indicates change in
stocks compared with previous year: 3/-159 4 9 486 -61
Import figures from the Bureau of Foreign and Domestic Commerce, consumption
from the BiLreau of the Census.
/J General imports include wool entered for immediate consumption and entries
into bonded warehouses.
J/ Bureau of the Census figures adjusted to 52 week basis.
SStocks of apparel wool in the United States were large' at the beginning of
1935.








Stocks reported by dealers and manufacturers on April 1, 1939 with
comparisons are shown on a scoured equivalent basis in the accompanying
table. These figures include wool afloat and in bonded warehouses but they
do not include wool held on farms and ranches and in local warehouses in
producing States. Dealers stocks on April 1 were much smaller than a year
earlier but were larger than or. the corresponding dates in 1936 and 1937.
Stocks held by manufacturers and topmakers on April 1 were slightly larger
than a year earlier but vere smaller than April 1 stocks in any of the
3 years, 1935-37.


Stocks reported by dealers and manufacturers, 1934 to date
on a grease basis in table 3 at the end of this report.

Stocks of rcw wool, top and noil held by dealers, topmakers
and manufacturers in the United States, scoured basis,
April, 1939 with comparisons


are shown


__ _1939: Apr. 1
Item 'Mar. 26 I/ :Dec. 31 / : 1939

S1,000 1,000 1,000
t pounds pounds pounds

Apparel wool, total ................ ..: .09 111 5.655 94.309
Dealers ............................. 63,574 65,115 46,061
Domestic ........................ : 55,092 51,928 32,487
Foreign on hand ...................: 8,303 10,497 12,604
Foreign afloat ....................: 179 2,690 970
Manufacturers & topmakers .............. 45,913 50,540 48,248
Domestic ..........................: 30,556 37,654 30,313
Foreign on hand ...................: 13,804 10,201 13,798
Foreign afloat .... ...............: 1,553 2,685 4,137

Carpet wool, total ...................: 34,300 28,174 33,08O
Dealers ...........................: 3,643 3,641 3,461
Manufacturers .....................: 30,657 24,533 29,627

Tops ..................................: 25,948 23,248 23,859
Noils .................................: 7,608 9,337 10,019

Compiled from Bureau of the Census Quarterly Wool Stock Report April 1, 1939.
I/ Revised.

Wool imports increase

United States imports of apparel wool for consumption V/ totaled 9.3
million pounds in March compared with 5.2 million pounds in February and less
than 1 million pounds in March 1938. In the first 3 months of this year 20.7
million pounds of apparel wool were imported for consumption compared with
only 4.4 million paoinds imported in the same months last year. .Imports in

1/ Wool entered f~t immediate consumption plus wool withdrawn from bonded
warehouses for consumption.


WOOL-29


- 5 -








the first quarter,of this year were larger than in the same period of any
of the 5 years, 1931-35, bt. were exceeded by the relatively large imports
of 1936 and 1937. The first quarter of the year is usually the season of
largest importation. With the new domestic clip available, imports are
likely to decline seasonally in the next few months.

Receipts byE -rides

Total receipts of foreign apparel wool at 3 ports by grade groups for
1936-38 and January to March 1938 and 1939 are shown in the accompanying
table. Such receipts include wool imported for immediate consumption plus
wool entered into bonded warehouses for later disposal, and are not comparable
with statistics of imports for consumption, given above. Wools "not finer
than 40s" were the largest item of import in the first quarter of the year
but receipts of wools grading finer than 56s also were substantial.


Receipts df foreign apparel wool at Boston, New York and Philadelphia,
1936-38 and January-March 1938 and 1939 I/


: : Jan.-Mar.
Grade : 1936 : 1937 : 1938 : 193 1939
_.~ ~~ ~ ~ 4 S .S, --- -' --- ____ ________ '. ^ .. ._ _______ ___ i iL m iL ll~~ll~l~ nilrllljn ______ -


S1,000 1,000 1,000 1,000 1,000
: pounds pounds pounds pounds pounds

Finer than 56s ........ 37,636 :89,.937 6,006 1,007 8,986
46s to 56s ............: 32,575 32,006 3,393 388 2,050
40s to 44s ............: 7,649 '.7,,870 1,478 170 1,208
Not finer than 40s 2/ 21,165 :24,185 12,746 1,232 12,795

Total ............: 99,025 153,998 23 623 2.797 25,042
Statistics compiled by the Boston office of the Bureau of Agricultural
Economics from. importers' declarations...
1! Includes sub-ports of Massachusetts and other.New England ports. Receipts
*include 'ool imported for immediate consumption, together with wool
entered into bbnded -ijarhouses for, future disposal.
2/ Apparel class wool "not finer thn- 40s" may. be imported free of duty if
used for floor coverings, press 'cloths, knit or felt boots or heavy
fulled lunbermen's socks. In the last 5 years about uno-fifth of the
imports of such wools have been duty free.

Mill consumption continues high

Mill con-umption of apparel wool, which has been maintained at a
relatively high level since last August, continued large in March. The
weekly rate of 5,278,000 pounds was slightly lower than that of February
but was fully twice as high as in March 1938. With the exception of 1937
the consumption in March this year was the largest reported for the month
since 1927.


- 6 -


WOOL-29


- ---







WOOL-29


Consumption on a grease basis in the first quarter of 1939 was equiv-
alent to 129 million pounds of shorn wool and 19 million pounds of pulled
wool. In the first quarter of ]158, mill consumption was equivalent to only
58 million pounds of shorn wool and 15 million pounds of pulled wool.

Orders for men's wear fabrics held by mills late in April were report-
ed by the New York Wool Ton Exchange Service to be fully twice as large as a
year earlier when orders were small. But orders were smaller than on that
date in the years, 1935 to 1937.

OUTLOOK

The outlook for the 1939 domestic wool marketing season has not changed
materially since the April Wool Situation was issued. Supply and demand con-
ditions in the United States continue favorable for the disposal of the 1939
wool clip, which is now arriving on the market. The carry-over of wool in
this country into the 1939 season was much smaller than a year earlier and
probably was below the average carry-over of the 5 years, 1933-37. Domestic
wool production this year is likely to be about the same as that of last year.

With prospects for a stronger consumer demand this year than last, it
is expected that mill consumption for the year 1939 will be larger than in
1938. While consumption has been relatively large since August, consumption
had declined to a very low level in the latter part of 1937 and early months
of 1938, and stocks of semi-manufactures and manufactured goods in consuming
channels were greatly reduced. With increased sales to consumers in prospect,
inventories of such goods may be enlarged this year, and this will help to
maintain consumption near present levels.

Recent developments in the foreign market should be a strengthening
influence in the domestic wool situation, at least until the new Southern
Hemisphere clip becomes available in the fall. Crises in the European situ-
ation have been accompanied by increased demand for crossbred wools for mil-
itary purposes, chiefly from the United Kingdom, and prices of such wools
have advanced. The decline in prices of domestic wools at Boston in March and
April, and the advance in prices at the London sales has reduced the spread
between Boston and London prices. In the first quarter of this year the spread
between foreign and domestic wool prices was large enough to attract fairly
large imports to the United States.

It now appears quite certain that the carry-over of wool into the 1939-
40 season in the Southern Hemisphere will be small. While stocks in European
countries are fairly large, mill activity is increasing in most countries, and
the continued expansion of rearmament programs favors the building up of stocks
of raw wool in consuming countries.


- 7 -






WOOL-29


United States Farm Income From Wool And Mohair, 1q99- 3

Estimates of farm income from wool and mohair from 1909 to 1938,
released recently by the Bureau l/ are shown in the accompanying table.
Conies of the report which contains statistics of income by States as
well as total United States, may be obtained on request.

Tool and mohair: Sales, average price, and cash income for the
United States, 1909-38


W: ool
: Sales : Average : Cash


Mohair 1/


: Sales
* *


__ : 'price : income


: 1,0CC '.b.


310,179
305,834
301,552
277,880
265,888
250,621
241,175
244,037
236,914
253,993
270,091

250,888
241,723
228,367
230,168
238,205
253,203
269,261
289,4o4
314,820
327,795

352,129
376,301
350,996
374,152
370,329
364,667
360,327
366,609
372,810


Ct.


22.2
21.7
15.8
17.3
16.7
16.6
22.1
26.1
41.6
57.7
49.5
45.5
17.3
27.1
39.4
36.6
39.5
34.0
30,3
36.2
30.2

19.5
13.6
8.6
20.6
21.9
19.2
26.9
32.0
19.1


1,000 dol. 1,000 lb.


68,811
66,404
47,759
47,950
44,418
41,559
53,223
63,780
98,453
146.532
133,571
114,117
41,882
61,998
90,607
87,284
99,990
91,514
87,610
113,879
99,056

68,739
51,039
30,202
77,065
80,988
70,180
96,824
117,270
71,378


5,898
5,920
6,005
6,429
6,524
6,554
6,541
7,113
7,202
7,702
8,463

8,966
9,461
8,589
9,183
9,986
11,146
12,803
13,960
15,956
16,736

17,583
19,376
16,935
16,539
16,182
15,634
15,986
16,368
16,762


Year


/ Fi gures
clippings.


include both goats an
2/ Preliminary.


d kids clipped, also spring and fall


I~ Income parity for Agriculture, Part 1 Farm income, Section 6 Income
from sheep and lambs, wool and mohair. March 1939. Copies of this report
may be obtained upon request from the Division of Economic Information,
Bureau of Agricultural Economics, Washington, D. C.


Average
price
Ct.

22.6
26.5
30.2
29.5
28.5
26.7
30.4
44.9
44.0
58.4
52.0
' 24.1
19.4
43.1
46.5
65.4
55.8
60.7
56.1
70.1
47.0

33.5
16.6
9.0
29.2
18.8
36.3
54.1
54.1
34.8


1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919

1920
1921
1922
1923
1924
1925
1926
1927
1928
1929


1930
1931
1932
1933
1934
1935
1936
1937
1938 2


- 8 -


: Cash
Income
1,000 dol.

1,335
1,568
1,813
l,g9g
1,860
1,750
1,990
3,193
3,170
4,500
4,900

2,067
1,831
3,706
4,272
6,534
6,222
7,775
7,827
11,190
7,860

5,887
3,224
1,520
4,834
3,047
5,681
8,646
8,853
5,841








Cash income from wool, like that from other farm products increased
materially from 1933 through 1937. The 1937 income totaling 117 million
dollars was the largest for any year since 1919 and it was almost four times
as large as the record low income of 1932. In 1938 wool prices were much
lower than in 1937 and the cash income from wool of 71 million dollars was
40 percent smaller than in 1937. Farm income from wool reached the highest
level for at least 30 years in 1918 when the total was 146 million dollars.

Foreign Situation

London sales

The third series of 1939 London wool sales opened May 2. Prices
of merino and fine greasy crossbred wools were unchanged as compared with
closing prices of the previous series on March 30. Prices of medium and
low greasy crossbred wools at the opening of the series were.10 percent
higher than in March; slipped crossbreds were 10 to 15 percent higher and
most scoured crossbreds were about 5 percent higher. English buyers
secured most of the offerings at the opening sale.

Stodcs and activity in importing countries

Such information as is available indicates that stocks of raw wool
are now relatively large in most foreign importing countries except Japan.
Imports into the principal European importing countries in 193S were much
larger than in 1937 and were larger than average imports in the 5 years
1932-36. Imports have continued large so far in 1939. Manufacturing
activity declined in most countries in 1937 and the first half of 1938,
but there has been an increase in activity since last fall.

Stocks of raw wool in railway and canal depots in Yorkshire
England on March 1 were twice as large as a year earlier and were the
largest reported for that date since 1934, according to statistics pub-
lished by the Imperial Economic Connittee in Wool Intelligence Notes.
While these figures are not complete they indicate roughly the changes in
stocks in the hands of manufacturers. Wool manufacturing activity in
the United Kingdom has shown considerable improvement since the late summer
of 193S. The percentage of insured workers registered as unemployed on
March 13 was 12.1 compared with 13.5 percent a month earlier and 20.5
percent a year earlier.

Production of wool tops in France (Roubaix-Tourcoing) in the first
2 months of 1939 was 40 percent larger than a year earlier according to
statistics published in Wool Intelligence Notes. Stocks of wool top in
combing establishments at the end of February were no larger than a year
earlier and it appears that wool is going steadily into consumption.
French export trade in wool yarns and tissues has increased sharply since
early 1938.


WOOL-29


- 9 -





WOOL- 29


- 10 -


Southern Hemisphere sales and supplies

The regular selling season is drawing to a close in the Southern
Hemisphere. Supplies i/ as of April 1 in Australia and the Union of South
Africa, which produce chiefly merino wool, were 28 percent smaller than a
year earlier and 10 percent smaller than average April 1 supplies in the
5 years 1933-37. Disposals of wool in Australia from July through March
of the current season were 15 percent larger than a year earlier and were
fully equal to average disposals for that period in the five previous
seasons. It is likely that the carry-over of merino wool into the 1939-40
season will be snall.

The average price of 70s warp wool at the Sydney sales in Australia
in March was 41.9 cents a pound, clean basis, delivered Bradford, compared
with 44 cents in February and 49.9 cents in March 1938. The decline in
prices of 70s warp wool in March was somewhat greater than the decline in
prices of other descriptions of merino wool. Sales will be held at Sydney
and Brisbane in May and June but the selling season has closed in other
Australian centers.

The average price of 70s super wool at South African selling centers
in March was 40.5 cents a pound, clean basis, compared with 41.8 cents in
February and 49.4 cents in March 1938. Sales in South Africa in the current
season have exceeded those of the previous season by about 15 percent, with
Germany by far the largest purchaser. The season for combing wools is now
over. Offerings in April were chiefly short wools.

Supplies of wool available in Argentina, Uruguay and New Zealand
as of April 1 were about 18 percent smaller than a year earlier but were
5 percent larger than average April 1 supplies in the 5 years 1933-37.
Because of the extensive use of crossbred wool for military purposes demand
for such wool has been strong in recent months, and it is likely that present
supplies will be greatly reduced before the 1939-40 season opens in October.

Prices in South American selling centers were firm and unchanged in
March and April. The public auctions in New Zealand ended with sales at
Wellington and Napier in the last week of April. Prices at the closing sales
were slightly higher than at the last previous sales.









1/ Carry-over from precedinig sc~rson, plus estimated production, minus
exports front bcirnnini of season to March 31.





WOOL-29


- 11 -


Table 1.- Prices of wool per pound in specified markets and prices of textile
raw materials in the United States, selected periods, 1937-39


Avera
Market and description : 193
: 1937
Boston: : Cents
Territory combing, scoured basis
64s, 70s, 80s, (fine) ..........: 101.9
56s (3/8 blood) ...............: 87.1
46s (low 1/4 blood) ............: 72.1
United States:
Farm price, 15th of month grease :
basis ................ ....... 32.0
London: 1/
Average quality, clean cost 2/
70s ..................... .....: 62.1
56s ............... ............: 46.3
46s ............................: 39.5
Bradford: / 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/ .......: 6/1.6
Union of South Africa: -
Average export price greasy wool..: 25.1
Price at selling centers, 70s
warp, clean cost ............. 9/63.2
Argentina Buenos Aires
Coarse crossbred, greasy 10/ .....:11/21.7
Uruguay Montevideo
Crossbred, greasy 13/
Fine 50/56s-60s ................. 14/36.6
Coarse 32/36s-44s ..............:.4/28.2
United States: Textile fibers -
Wool, territory fine staple 15/.: 101.9
Cotton, 7/8 Middling 16/ .......: 11.22
Silk, Japanese 13-15 T'/........ 186.0
Rayon, yarn, 150 deni"r 18/.......: 62.2


ge : 1938 1939
: 1938 : Apr. : Feb. : Mar. :Apr.
Cents Cents Cents Cents Cents


70.4
58.9
52.4


69.0
57.5
51.0


73.8
61.0
54.0


71.8
60.1
52.8


69.0
57.1
50.0


19.1 18.5 20.2 20.0 19.7


42.4
31.4
27.1


43.1
31.1
26.2


37.6
27.3
23.9


38.6
28.6
23.9


38.3
28.8
24.6


44,2 45.7 42.0 41.0 39.0
28,2 28.0 27.4 27.3 27.3


17.6

7/48.1


18.4 17.1 16.3

49.8 44.0 41.9


16.6 17.5 15.9 15.5


6/46.3

12/15.0


47.8 41.8 40.5

15.5 12.8 12.8


18.8 18.6 17.9 17.9
17.0 17.0 15.7 15.7


70.4 69.0
8.58 8.75
170.6 161.9
52.2 54.0


73.8
8.52
211.4
51.0


71.8
8.64
.221.8
51.0


69.0
8.51
239.3
51.0


Foreign prices have been converted at prevailing


rates of exchange. Yearly av-


erages are averages of monthly prices except United States farm price which is a
weighted average.
1/ Average of quotations for each series of London sales reported by the London of-
Tice of the Bureau. For months when no sales were held, figures are interpolated.
2/ Top 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, England. 6/8-month average. No quotations May to August. 7/ 9-month av-
erage. No quotations June to August. 8/ South African Ministry for Tgriculture.
9/ 10-month average. No quotations JuTy and August. 10/Wools of South and South-
Cast Buenos Aires Province. Revista Quincenal de Preci'-s Salaberry Barcetche &
Cia. 11/4-month average. No quotations April to Nov. 12/ 11-month average. No
quotatTons for Oct. 13/Boletin de Hacienda, Uruguay.-14/6-month average. No
quotations May to Oct. T /Scoured basis at Boston. 16/AveF-ge at 10 markets.
17,78 percent white at New York,Bur. of Labor StatisTscs. 18/Bur.of Labor Statistics.






WOOL-29


Table 2.- United States: Wool imports, consumption and machinery
activity, specified peri'os, 1937-39


Item


Imports for consumption,:
actual weight: :
Apparel .............:
Finer than 40s .....:
Not finer than 40s ...
Carpet,including
camels hair ........

Consumption, scoured
basis: 2/ (Weekly av.)
Apparel ............ :
Carpet ..............
Aggregate-
Apparel ...............
Carpet ...............:


19. 7
1, "-'O
pounds

150,160
126, 01
25,569
172., 509

172,091


4,772
2,023

248,121
105,197


: Jan.-MN1r.
1: 10. 8 : 1939 :


1,000
pounds

30,811
18,443
12,369


1,00
pounds

', 360
,,228
1,132


1,000 1
pounds p

20,651
14,?3?5
6, 2 ;


Mar. : Fob.
1938 : 1939
,000 1,000
pounds pounds


829 5,236
564 3,467
265 1,769


71,908 7,354 43,330 2,724


4,143
1,225


Mar.
1939
1,000
pounds

9,316
7,047
2,269


11,807 15,904


2,709 5,346 2p03 5,612 5,278
922 2,186 1p82 2,194 2,464


219,565 35,211 69,500 10412
64,945 11,982 28,416 4,28


22,449 21,110
8,776 9,856


Weekly average in hours


Machinery activity /
Hours operated per
machine in place 3/ :
Worsted combs .......:
Worsted spindles .....:
Woolen spindles ......:
Woolen & Worsted looms:
Broad ..............:
Narrow ............:
Carpet & rug looms
Broad ..............:)
Narrow .............:)


46.1
32.9
43.1

39.0
20.4

28.6


539.5
26.6
50.6

28.0
10.5

18.8


24.6


50.4


21.5


52.8


49.1


17.8 38.7 13.9 38.3 36.3
26.2 37. 22.8 40.0 33.0

25.5 42.0 21.5 44.6 36.4
11.2 11.7 11.1 11.7 11.6

20.1 36.7 22.2 38.2 38.5
13.7 24.3 15.3 25.3 25.7


Import figures from the Bureau of


Foreign and Domestic Commerce. Consumption and


machinery activity from the Bureau of the Census.


W/ eight of greasy, scoured and skin wool added together.
SFigures for January based on 5 weeks, February on 4 weeks: 1937 totals based on
weeks, 1938 totals on 53 weeks. No adjustment made for holidays.
3/ "Weekly average hours operated per machine or spindle in place" will take the
place of "percentage of maximum single shift capacity" for figures previously re-
ported. The percentage of single shift capacity (40 hours) may be obtained by
dividing the above figures by 40.








A


---- ---


- 12 -


:*







WOOL-29


- 13 -


Table 3.- Stocks of wool held by dealers, manufacturers and top-
makers in the United States, by class and origin, and stocks
held in 15 Western sheep States, grease basis,
1934 to date


: ld Apparel wool i/ : Carpet
: Held by : Origin : On farms and : wool
Date :MIanufactur-: : ranches in 13: all
: Doalers:ers and top:Domestic:Foreign: Total :Western States:foreign
:: makers : ::: 2/ : 1/
:Mil. lb. Mil. Ib. Ml. lb. Millb. Mil. lb. Mil. lb. Mil.lb.
1934
Mar. 31 3/:
June 30 4/: 337.2 41.2 378.4 55.3
Sept.29 4/: 382.9 35.2 418.1 54.2
Dec. 31 /: 342.1 30.6 572.7 46.7
1935
Mar. 30 4/: 261.3 28.1 289.4 41.9
June 29 : 195.6 123.9 296.6 22.9 319.5 43.0
Sept.28 :173.5 171.5 317.6 27.2 344.8 51.8
Dec. 51 : 99.9 134.6 191.1 43.4 234.5 4.5 51.8
1936
Mar. 28 : 69.7 119.8 122.4 67.1 189.5 0.4 55.0
June 27 : 157.0 138.2 241.4 55.7 295.1 49.1
Sept.26 : 142.6 119.0 222.5 39.1 261.6 47.5
Dec. 31 :100.9 146.0 169.6 77.3 246.9 -1.8 54.0
1937
Mar. 27 : 62.4 150.4 116.4 96.4 212.8 0.3 53.9
June 26 : 148.0 139.4 220.0 67.4 287.4 51.2
Sept.25 :156.0 120.2 224.4 51.8 276.2 59.8
Dec. 31 : 149.5 90.0 200.7 38.8 239.5 31.6 63.5
1938
Mar. 26 : 130.2 86.6 180.6 36.2 216.8 22.5 49.6
June 25 : 181.0 116.7 264.4 33.3 297.7 43.9
Sept.24 : 196.2 125.0 286.4 34.8 321.2 38.0
Dec. 31 : 156.5 101.9 198.9 39.5 238.4 15.5 40.6
1939
Apr. 1 : 88.5 92.0 132.6 47.9 180.5 6.3 46.8

Compiled from Bureau of the Census Quarterly Wool Stock Reports. These statis-


tics are believed to include over 95 percent


of the total stocks held by and


afloat to all dealers, topmakers and manufacturers in the United States.

j/ Includes foreign wool afloat.
2/ Estimated by the Department of Agriculture. No estimates available for dates
where no figures are shown.
3/ Hot available.
T/ These figures are approximations obtained by converting scoured basis to
grease equivalent. Stocks figures were not reported on a grease basis by the
Bureau of the Census until June 1935.




ISITY OF FLORIDA




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