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The wool situation
ALL VOLUMES CITATION THUMBNAILS PAGE IMAGE ZOOMABLE
Full Citation
STANDARD VIEW MARC VIEW
Permanent Link: http://ufdc.ufl.edu/AA00011232/00047
 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: [1937-1942]
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 rights reserved by the source institution and holding location.
Resource Identifier: oclc - 02269655
ocm02269655
Classification: lcc - HD9894 .Un33
System ID: AA00011232:00047
 Related Items
Preceded by: World wool prospects
Succeeded by: Livestock situation
Succeeded by: Livestock and wool situation

Full Text





UNITED STATES Di-PARTRMENT OF AGRICULTURE
Bureau of Agricultural Economics
Washington


'UCOCL-14 February 9, 1938


| ^ Qp p^ ^g -------------____ -.__ -----________-------.____- __------
UNIV OFFLLIB
DOCUMENTS DEPT- THE W 0 0 L SITUATION




U S DEPOSITORY Summary


Wool prices in the United States and in foreign markets during the

first 6 months of 1938 will be affected by large supplies of raw wool,

with no immediate prospect for recovery in mill consumption. Hence, little

if any advance in domestic prices from present levels seems probable during

the first half of this year, says the Bureau of Agricultural Economics.

Stocks of wool in this countr-, are now much larger than a year

earlier since consumption in the next 3 or 4 months is expected to be

considerably smaller than in 1937, stocks on about April 1, when the new

domestic clip becomes available, probably will be materially larger than

a year earlier. The increase in stocks at the beginning of April over

a year earlier, however, may be less than the increase on January 1

inasmuch as imports of wool in early 1938 no doubt will be much smaller

than the large imports in early 1937.

Mill consumption of apparel wool in the United States in December was

more than 60 percent smaller than in December 1936 and was the smallest

consumption for the month since 1920. Because of the large consumption in

the early months of 1937 consumption on a scoured basis for that year was

only 11 percent smaller than in 1936 and 10 percent smaller than in 1935.






WOOL-14


United States imports of apparel wool for consumption amounted to

150 million pounds in 1937, the largest since 1926. Most of the 1937

imports, however, were received early in the year. Since last May imports

have declined sharply and in November and December they were about 70 percent

smaller than a year earlier.

Smaller imports of wool by manufacturing countries in the second

half of 1937 resulted in accumulations of stocks of raw wool in Southern

Hemisphere producing countries. On January 1 apparent supplies for disposal

during the remainder of the current season exceeded those of a year earlier

by 14 percent and the 5-year (1932-36) January 1 average by 8 percent.

Indications are that stocks of raw wool remain relatively small in most

foreign importing countries.

The improvement reported in foreign wool markets during December was

not maintained in January and trading in the domestic market was light.

The failure of domestic mills to resume buying in January cven at the

moderate rate of December, and the weakness of prices in foreign markets,

were accompanied by small declines in domestic wool prices in the second

half of the month.

DOMESTIC SITUATION

BACKGROUND.- During the spring of 1937 domestic wool prices
reached the highest level since 1929 but declined more than
30 percent by the end of the year. At the beginning of 1938
domestic wool prices were lower than at any time since 1935.
The drop in prices in this country reflects (1) the decrease
in mill consumption since last summer, (2) the recession in
industrial activity and in the business situation generally,
(3) larger world supplies of wool, (4) larger stocks of wool
in this country, and (5) weakness in foreign wool prices
since last September. Despite the recent marked decline in
domestic wool prices they are still high in relation to prices
of other textile raw materials.


-2-







WOOL-14


Wool Sales and Prices

Trading was light in the Boston wool market during January. The
failure of mills to resume buying, even at the very moderate rate of
December, and the weakness of prices in foreign wool markets, were
reflected in further declines in domestic wool prices in the second half
of the month.

At Boston nominal quotations for fine Delaine fleece wools remained
unchanged at 31-32 cents a pound in the grease, in January, Prices for
other grades of spot graded fleece wools declined 1 to 2 cents, grease
basis, on small sales, Mid-west dealers offered country graded 3/8 and
1/4 blood bright fleeces in mixed grade lots at 27-28 cents in the grease
delivered to Eastern markets, c;om.pred with 30-32 cents a pound quoted
for similar wools in December.

Only fine and 1/2 blood grades of territory wools were sold in
sizable quantity during January. Prices on graded fine French combing
territory and 12-month Texas wools declined 3 to 4 cents a pound, scoured
basis, during the month.

Sales of foreign apparel wools at Boston were small in January.
Spot prices on such wools declined slightly in line with the trend in
foreign markets. Receipts of foreign wool in Boston were small and
little interest was shown in placing of orders abroad,


Prospects for Domestic 'ool Prices in 1938

World wool prices in the first half of 1933 will be affected by large
supplies of raw wool, with no immediate prospect for recovery in mill
consumption. Hence, little if any advance in domestic prices from present
levels seems probable during the first half of this year. Since stocks of
wool in this country are much larger than a year earlier and since consumption
in the next 3 or 4 months is expected to be considerably smaller, stocks
on about April 1, when the new domestic clip becomes available, probably
will be materially larger than a year earlier. The increase in. stocks at
the beginning of April over a year earlier, however, may be less than the
increase on January 1, because imports of wool in early 1938 will be much
smaller than the large imports in early 1937.

Mill consumption during the last three quarters of 1938 will depend
partly upon changes in the general business situation. The present large
inventori-s of finished and semi-finished goods probably will be fairly well
used v, during the winter and spring. Thus if there is a pickup in
b'nrc-se :cr.nditions and in eonploymont and payrolls later in 1938, some
i...r.v..ti in mill consumption probably will occur during the last half
of the yoe.r.







WOOL-14


-4-


In considering prospects for mill consumption in 1938, it should be
recognized that consumption in the 3-year period 1935-37 was larger than
in any other 3-year period since 1922-24. To some extent this Tr -go
consumption was a reflection of delayed purchases by consumers during the
depression. Nevertheless, a considerable part of the increased manufacture
of wool goods probably was used to supply needs which may not recur soon.
It is possible therefore, that consumption for the entire year 1938 will
be much smaller than in 1937.

The decline in wool prices in foreign markets has not been so great
as the drop in the United States. Consequently, the spread between domestic
and foreign prices has been reduced in recent months; and in early January
it was narrower on most wools than at any time in the past 2 years, and
was less than the tariff differential. With imports not needed in large
volume, the spread is not likely to widen much, if any, in the next few
months.

Wool Stocks

Supplies of all wool in the United States at the beginning of 1938
were considerably larger than a year earlier. Stocks of wool in the hands
of dealers and manufacturers, on ranches and farms, and in local country
warehouses in the 13 western sheep states on January 1 were reported to be
about 270 million pounds, grease basis, compared with about 207 million
pounds a year earlier. These reported figures on stocks at the beginning
of 1938, however, arc considerably smaller than the indicated stocks at
the beginning of the year as computed from stocks reported on January 1,1937,
plus domestic mill consumption, production and imports for 1937. That is,
if stocks at the beginning of 1937, domestic production, and imports for
the year are added together and mill consumption for 1937 deducted from
this total the indicated stocks of apparel wool at the beginring-or-f-938
are about 315 million pounds compared with reported stocks of 270 million
pounds. In 1936 and 1937 the indicated stocks at the beginning of the year
were smaller, rather than larger, than the reported stocks. It is possible,
therefore, that the reported stocks at the beginning of 1938 are understated
by a substantial amount.

The proportion of stocks held by producers this year is much larger
than a year earlier. At the beginning of 1938, it was estimated that about
31 million pounds of wool were so held in the Western States compared with
less than 2 million pounds a year earlier.

Stocks reported by dealers and manufacturers on December 31, 1937,
with comparisons, are shown on a scoured equivalent basis in the
accompanying table. These figures include wool afloat and in bonded ware-
houses, but they do not include wool held on farms and ranches and in local
warehouses in the producing States.







WOOL-14


-5-


Stocks of raw wool, top and noil held by dealers, topmakers and
manufacturers in the United States,scoured basis,
December 31, 1937 with comparisons

: 1936 : 1937
It e Dec. 31, : Sept. 25, :
Item Dec. 31,

: 1,000 pounds 00 pounds 1,000 pounds

Apparel wool, total...........: 129,204 135,353 117,849
Dealers .. ...4............. : 4,125 73,600 71,816
Domestic .. .......... : 32,164 62,700 62,243
Foreign on hand ........: 9,298 10,645 9,221
Foreign afloat .........: 12,663 255 352
Manufacturers and topmakers ..: 75,079 61,753 46,033
Domestic ...............: 47.543 38,831 30,073
Foreign on hand ........: 15,206 21,826 15,448
Foreign afloat .........: 12,330 1,096 512

Carpet wool, total ........... 37,870 42,282 44,482
Dealers ....................: 3,388 2,802 3,592
Manufacturers ...............: 34,482 39,480 40,890

Tops ..... ... ............ ...: 22,072 32,372 29,859
Noils ............. ..........: 12,175 12,138 10,150

Compiled from Bureau of the Census, quarterly Wool Stock Report,
December 31, 1937. The stocks are believed to include more than 96 percent
of the total stocks held by and afloat to all dealers (including commission
houses, pullers and cooperatives), topmakers, and manufacturers in the
United States on the dates specified.

l/ Revised.


Wvool Imports

United States imports of apparel wool for consumption amounted to about
2.8 million pounds in December, only a fourth of what they were in December
1936 and the smallest December imports since August 1935. Imports of such
wool for the entire year 1937 were 150 million pounds compared with 111
million pounds in 1936 and 42 million pounds in 1935. Though total imports
of arpparel wool for the calendar year 1937 were the largest since 1926, most
of the 1937 imports entered this country in the first half of the year,
when stocks of raw wool in the United States were small. Imports have
decreased sharply since last May.






WOOL-14


Imports of carpet wool into the United States in 1937 apparently sur-
passed all previous years. Imocrts for consui.ution totaled 172.1 million
pounds compared with 143.3 million pounds in 1936, and the provicus record
of 171.4 million pounds in 1929. Carpet wool imports were unusually
large in the first half of 1937. Imports declined sharply in th: second half
of the year, but consumption also declined and stocks of carpet -"ool in the
United 3ttes at the be inning of 1938 were larger than a year earlier.

Mill Consumption

Mill consu-ption of appar.-l wool in th.e United Jtates in Tec::mber
averaged 2,60",000 pounds, scoured basis, per week. This was 60 rorcent
smaller that the average in March and was (. 3. percent smaller than in
December 1936. Corsur,;tion in December was the smallest for any month
since September 1934 and the srr.llest December consumption since 1920.

Consumption on a scoured basis for theq entire year 1937 was 11 percent
smaller than in 1936 and 18 percent smaller than in 1935. The decrease in
mill consumption since early 1937 has been thq result of several factors.
Wool prices in 1937 were high in relation to prices of other textile raw
materials. Consumers needs for wool goods, which had been unfilled during
the depression, apparently were largely ra 'lcr.sheid in 193-5 .an 1936.
Thus with mill consumption continuing large in the .first half of 1937 there
avas a considerable accumulation of stocks of finished'and semi-finished
wool goods by the fall of the year. The current. business .recession also has
been an important factor in the decline in. consumption.

Mill consumption in the year 1937 was equivalent to 424 million pounds
of shorn wool, greasy shorn basis, and 68 million pounds of pulicd -.eool,
groacy pulled basis. Consumption on a grease basis in 1936 was e-ui-'alent
to 496 million pounds of shorn wool and 79 million pounds of pulled wool.


FOREIGN SITUATION

Wool Sales and Prices

The improvement reported in foreign wool markets in Decc.mbr was not
maintained in January. There were however, some indications o' stability
at the end of January.

Prices at the opening of the 1938 series of London wool sales on
January 18 were e.ual to or only slightly lower than at the close of the
previous London sales in November but oper.in: prices were not fully maintained
during the January sales. At the close of the series on February 3, prices of
merino wools were 5 to 7-1/2 percent lower than in November, greasy fine
crossbreds were 10 percent lower and greasy medium crossbreds 5 percent
lower. Prices of -reasy low crossbreds and all scoured crossbreds were equal
to November prices while slipped wools were 7-1/2 to 10 percent higher than
in November. Prices of fine and medium wools at the London sales in January
were about 30 percent lower than in January 1937.


-6-







WOOL-14


Average prices for fine warp wool in Australia and the Union of South
Africa in December were slightly higher than in November but were about 20
percent lower than in December 1936. Limited buying by Japan and the United
States at the January Australian sales was accompanied by lower prices.

The South American markets reported some improvement in December. Sales
were larger than in the 2 previous months and prices advanced. Sales and
prices remained far below last season, however, with little demand from United
States buyers.


Wool SuppUies in Southern Hemisphere, January 1

Wool supplies in the Southern Hemisphere at the beginning of 1938 were
large. Apparent supplies l/ as of January 1,- exceeded those of a year earlier
by 14 percent and the January 1 average for the 5- years, 1932-36 by 8 percent.

There appears to be a great similarity in the supply situation during the
current season and that of 1934-35. Supplies at the beginning of this year were
within 1 percent of the available quantity as of January 1, 1935. This
similarity also applies to supplies for the entire season, and to exports up to
December 31, It should be noted, however, that supplies this season are mostly
of the current season's clip, whereas on January 1, 1935, there was a large
quantity of low crossbred carry-over wool on hand. The price recession in the
Southern Hemisphere this season, moreover, has not been so great as it was in
1934-35* At that time a decline of 48 percent occurred in the price from the
peak in January 1934 to December 1935 whereas this season the decline was only
31 percent.

Normally a little more than a third of the exportable surplus in the
Southern Hemisphere is shipped by the end of December. This season a little
over a fourth had been shipped by that date, leaving considerably larger-than-
usual stocks to be disposed of during the first half of 1938.






L/ Carry-over from preceding season plus estimated production, minus exports
to December 31. The relatively small quantities sold but not yet exported
and the quantity entering domestic consumption has not been taken into
account in this computation,


-7-





WOOL-14 -8-
1/
Apparent supplies of wool remairing for disposal in five principal
Southern Hemisphere countries as of January 1, 1932 to 1938

;: : : Union : : :
Period :Australia: and:of South:Argentina:Uruguay : Total
: : : Africa :

: Million Million Million Million ..illion millionn
: pounds pounds _pounds pounds pounds pounds

1932.......... .....: 572.3 309.6 231.7 335.3 77.2 1,526.1
1933..................: 626.5 326.7 169.8 330.4 50.5 1,533.9
1934.............* : 494.9 294.2 163.2 290.2 57.6 1,300.1
1935..............: 699.0 273.7 165.6 335.2 108.4 1,581.9
1936.............: 560.0 325.2 136.0 327.0 92.3 1,440.5
5-year average :
1932-36 ........* 590.5 305.9 173.3 323.6 83.2 1,476.5
1937..............: 546.3 287.8 167.2 315.1 87.3 1,403.7
1938. ............: 637.1 295.5 195.2 365.6 106.7 1,600.1

i/ Carry-over from preceding season plus^est-imated --r'roduction minus exports
from beginning of season to end of November. No account taken of relatively
small quantity sold but not exported and that used for domestic consumption.


Exports from Southern Hemisphere in First Part of 1937-38 Season

The outstanding features of the 1937-38 Southern Hemisphere wool
season to date compared with the corresponding period of last year are the
general falling-off in exports to the United Kingdom, Belgium, and Japan, and
the large increase in shipments to Germany.

Wool exports to the United States from Southern Hemisphere countries
have been negligible so far this season. From July 1 to December 31,Australia
and hew Zealand exported approximately 3 million pounds to t he United States
compared with 44 million pounds in the same period of 1936. Exports to he
United States from October through December from Argentina and Uruguay were
less than 2 million pounds compared with 29 million pounds in the same period
of 1936.
2/
Zxoorts from the five Southern Hemisphere countries from the beginning
of the current season to the end of December 1937 amounted to 571 million
pounds, and were 22 percent smaller than in the same period of the 1936-37
season and 21 percent smaller than the 5-year average for these months.
Exports so far this season, however, exceeded those of the sa.me period of
1934-35, by 1 percent, but with that exception they were the smallest for the
period 1927-28 to 1936-37. Shipments from the three British Er.pire
countries of the Southern Hemisphere were 15 percent smaller than the 5-year
average while those from South America were 50 percent smaller.



2/ Australia, New Zealand, Union of South Africa, season begins July 1.
Argentina and Uruguay, season begins October 1.


""'~






WOOL-14


Supplies in Importing Countries

In the last 6 months of 1937 European countries and Japan imported
considerably less woQl from the Southern Hemisphere than they did in the last
half of 1936. The reduced imports roflocted the decline in mill consumption
of wool in those countries, but indications are that: stocks of raw wool remain
relatively small in most foreign importing countries.

Manufacturing Activity in Importing Countries

Manufacturing activity in the wool textile industries of most foreign
countries declined during the second half of the year.- Ciurrent- activity is
based largely on old contracts ahd new business is reported to be small*

Mill consumption of imported wool in the United Kingdom in 1937 was
unofficially estimated to be about 15 percent smaller than in 1936 .with -mst
of the decline occurring in the second half of the year. .The British. Ministry
of Labour reports that 17.9 percent of insured persons in-the woolena.nd
worsted industry were registered as unemployed on december 13 compared with
15.5 percent a month earlier and with 6.4 percent in December 1936.
Unemployment in December was the largest reported since August 1934... '

Conditions in continental Europe showed little change in 'December.
Machinery activity in the Italian industry continued higher than in 1935 and
1936, largely because of the increase in export sales. Activity in France and
Belgium continued irregular, and below that of the previous year.


SUPPLEMENTARY DATA

Table 1..- Exports of wool (grease and scoured combined) from
Argentina and Uruguay to principal consuming countries,-
first 3 months of season, October 1 to December 31,
1936 and 1937

Cour: Argentina : Uruguay : Total
Country of -
destination : 1936 :1937 : 1936 : 1937 1936 1937

:.il.lb. Mil.lb. Mil.lb. Mil.lb. Mil.lb. Mil.lb.


United Kingdom .......: 25.4 9.9 7.5 4.7
Germany ..............: 3.7 9.1 4.7 5.7
France ...............: 8.4 6.6 1.3 0.6
Italy ...............: 2.3 0.8 1.3 0.3
Belgium ..............3 5.4 2.0 2.8 0.5
Netherlands ..........: 0,5 0.2 0.8 0.2
Japan ................: 11.0 1.1 11.1 ---
United States .......: 19.3 1.6 9.8 /
Total..........: 76.0 31.3 393 12.0
Other countries.. ....1 3.9 2.4 0.7 0.3
Grand total ..........: 79.9 33.7 40.0 12.3'


32.9 14.6
8.4 14.8
9.7 7.2
3.6 1.1
8.2 2.5
1.3 0.4
22.1 '1.1
29.1 1.6
i 15.3 13..3
4_Ai6 2.7
119.9 46.0


N --- -- --------- -.
Trade reports supplied by Buenos Airus Office of the Bureau of Agricultural
Economics. 1/ Less than 55,000 pounds.


-9-





WOOL-14


Table 2.- Price of wool per pound in specified markets and prices of
textile raw materials in the United States, selected
periods, 1936-38


Market and description


Average Average ---
: 1936 1937 Jan.


1937 : 1938


Nov.
*


Dec.


Boston: : Cents
Territory combing scoured
basis-
64s, 70s, 80s, (fine) ....: 92.0
56s, (3/8 blood) .........: 80.4
46s, (low 1/4 blood) .....: 65.9
United States:Farm price,15th
of month, grease basis .......: 26.9


London: 1/
Average quality,csean cost 2/:
70s ... .............. .. :
56s ....................
46s . ....... ............ .
Bradford: ,/
Scoured basis -
64s warp ..........
50s .....................
Australia:
Average price at all selling
centers, greasy wool 4/ ...:
Sydney (Delivered Bradford)5_/:


58.4
35.1
23.8


59.8
29.7


23.0


Cents Cents Cents


101.9
87.1
72.1

30.4


62.1
46.3
39.5


64.7
43.2


114.0
98.8
82.1

31.3


64.4
49.5
39.3


69.5
44.9


24.7 31.6


70s warp,clean basis ..... 10/62.9 10/67.5
Union of South Africa:
Average export price,
greasy wool ..........,.....: 21.4 25.1
Price at selling centers 6/
70s warp, clean cost .....:10/60.5 10/63.4
Argentina:
Buenos Aires market
Buenos Aires, South and
Southeast coarse crossbred
greasy -
32s 50s ..............:13/15.64


Uruguay:
Montevideo market
Fine crossbred, greasy -
50/56s 60s .........:
Coarse crossbred ..........i
United States:
Textile fibers -
Wool, territory fine
staple Z/................:
Cotton, 7/8 Middling 8/...:
Silk, Japanese 13-15 9/...:
Rayon yarn 150 denier ...:


34.22 4/39.81


92.0
11.9
176.6
58.6


101.9
11.2
186.0
62.2


73.9


85.9
72.0
60.6

26.0


47.6
35.4
29.7


51.1
31.3


Cents Cents


80.9
64.2
56.0

23.6


46.6
34.6
30.2


52.0
32.3


77.4
63.4
55.5

21.6


45.3
33.6
29.7


46.8
33.3


21.5 22.0

57.7 57.8 11/54.2


28.3 22.2


69.7


53.1


No
23.0 quotation



42.96
32.22


114.0
12.&
205.1
60.0


85.9
7.8
164.8
63.0


20.1

53.4 12/52.6





17.2



27.52
21.43


80.9
8.2
157.5
63.0


77.4
8.5


Continued -


Jan.


_~ __~


- -C-----


-10-


-A






'- 00 L-14


Table 2.- Price of wool per pound in specified markets and prices of
textile raw materials in the United States, selected periods,
1936-38 Continued

Foreign prices have been converted at prevailing rates of exchange.
Yearly averages are averages of monthly prices.

l/ 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.
2/ Top and noil in oil.
3/ Quotations- reported about the 25th of the month by the London Office of the
Bureau. A/ National Council of Wool Selling Brokers.
6/ Wool Record and Textile World, Bradford.
6/ South Africa Ministry for Agriculture. 7/Scoured basis, Boston market.
SAverage at 10 markets. 9/ 78 percent white, at New York.
10/ Average for months of regular selling season. 11/ Week ended January 8.
12/ Week ended January 15, 13/ 10-month average.
14/ 5-month average only months quoted.





Table 3,- Exports of wo.ol (grease and scoured combined) from Australia
and the Union of South Africa first 6 months of season, July 1
to Decciber 31, 1936 and 1937


Country of


: : Union'of
Australia South Africa Total


a.stina i on : 1936 : 1937 1936

: Mil.lb. Mil.lb. Mil.l b.


* 1937 :1936 : 1937

Mil. b. Mil.lb. Mil.lb.


United Kingdom .........: 200.4 169.0
Germany ...............: .21.6 29.0
France .................: .52.2 75.0
Italy .................. .14.1 22.0
Belgium ...............: 3.8 49.0
Netherlands ............: 7.6 4.0
Japan .................: 03 1 .0
United States ..........: 41.6 3.0
Canada ................ : 1.7 2.0
Total............ :_ 2.-3_..3 371.0
Other countries ........ : 23. 23.1
Grand total ............: 447.1 394.1


12.9 16.1
11.8 33.5
20.3 17.5
4.2 4.9
9.4 9.4
2/ 2/
30.7
2.3 0.2
2/ 2/
9-9.A6 31.6
3.7 64._ _
103.3 86.0


213.3 185.1
33.4 62.5
72.5 92.5
18.3 26.9
93.2 58.4
7.6 4.0
39.0 18.0
43.9 3.2
1.7 2.0
5 22.9 452.6
27.5 27.5
550.4 430.1


Wool Intelligonce Notes ana Yorkshiro Observer.
1/ Statistics of the National Council of Wool Selling Brokers converted from
bales by using the latest average weight per bale reported, which is for
the period July 1 to November 31, 1937.
I/ If any, included with "other countries".


-11-







WOOL-14


Table 4.-


United States: Wool imports, consumption and machinery
activity, specified periods, 1936 and 1937


: Jan. Dec. : :


Item
S1936

: 1,000
: pounds


Dec. Nov. Dec.
S1937 1936 1937 1937

1,000 1,000 1,000 1,000
pounds pounds pounds pounds


Imports for consumption,actual:
weight 1/-
Apparel ,,..,..........
Finer than 40s *....:
Not finer than 40s .:
Carpet,including camels:
hair ...........,,...

Consumption, scoured basis 2/-:
Weekly average -
Apparel .........
Carpet ...........:
Aggregate -
Apparel ............:
Carp et .............:


110,712
84,759
25,953

143,276


5,351
2,029

278,258
105,504


: Percent
Machinery activity 2/ -
(40-hour shift)
Worsted combs .........: 121.1
Worsted spindles ......: 83.5
Woolen spindles ......: 118.2
Looms, broad .........: 98.9
Looms, narrow .........: 51.9
Carpet and rug looms ..: 68.3


150,160
126,601
23,559

172,091


4,783
2,023

248,715
105,19 6


Percent


115.2
82.2
107.8
97.2
51.0
71.3


12,662
9,545
3,117


3,802
2,996
806


15,926 6,220


6,962
2,839

27,848
11,356


Percent


152.9
115.1
141.2
118.9
64.7
82.6


2,651
682

10,604
2,730


2,780
2,417
363

3,189


2,605
714

10,419
2,857


Percent percent


62.0
47.6
55.3
56.1
27.1
35.7


64.6
54.7
60.2
64.7
25.2
38.1


Import figures from official records of the Bureau of Foreign and Domestic
Commerce. Consumption and machinery activity figures from the Bureau of the
Census.
1/ Weight of greasy, scoured and skin wool added together,
2/ Figures for November and December based on 4 weeks, January to December
52 weeks. No adjustment made for holidays.






S 0 - -


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MILL CONSUMPTION OF WOOL, APPAREL CLASS,
UNITED STATES, 1918 TO DATE*


POUNDS
(MILLIONS)


350


300


250


200


150


100


50


0


- - -I m - '- -C I -C1 -


1918


1920 1922


1924 1926 1928


1930


*SCOURED BASIS, YEAR BEGINNING JANUARY


U. S. DEPARTMENT OF AGRICULTURE


NEG. 31061


1932 1934 1936

BUREAU OF AGRICULTURAL ECONOMICS


FIGURE I.- MILL CONSUMPTION OF APPAREL WOOL IN THE 3-YEAR PERIOD 1935-37 WAS
LARGER THAN IN ANY OTHER 3-YEAR PERIOD SINCE 1922-24. BUT CONSUMPTION IN 1937 WAS
SMALLER THAN IN EITHER 1935 OR 1936.


---


-------- ~













WOOL, MEDIUM, 56S: AVERAGE PRICES AT BOSTON AND LONDON,
AND SPREAD BETWEEN THESE PRICES, 1921 TO DATE


CENTS
PER
POUND

100

80

60

40

20

0

60

40

20

0


JAN. JULY JAN. JULY JAN JULY JAN. JULY JAN. JULY JAN. JULY JAN. JULY JAN. JULY JAN. JULY JAN. JULY JAM JULY JAN. JULY JAN. JUUIY JAN. JUW JAU. JULY JAN. JULY JAN.JULY
1921 1922 1923 1924 1925 1926 1927 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937
BOSTON- TERRITORY, STRICTLY COMBINs, SCOURED DABIS A LONDON-AVERAE QUALITY, CLEAN COST


U. S. DEPARTMENT OF AGRICULTURE


NEG. 19805 BUREAU OF AGRICULTURAL ECONOMICS


FIGURE 2.- THE DECLINE IN WOOL PRICES IN FOREIGN MARKETS IN CENTS PER POUND SINCE
AUGUST HAS NOT BEEN 80 GREAT AS THE DROP IN PRICES IN THE UNITED STATES. CONSEQUENTLY
THE SPREAD BETWEEN DOMESTIC AND FOREIGN PRICES HAS BEEN REDUCED IN RECENT MONTHS, AND
IN EARLY JANUARY IT WAS NARROWER ON MOST WOOLS, THAN AT ANY TIME IN THE PAST 2 YEARS.


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


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