While many a dairyman and grain farmer fretted about sagging Government price supports, wool growers had much to be thankful for last week. The Agriculture Department announced a guarantee of 62ยข a Ib. for the 1955 wool clip, 17% above the current support level and a generous 106% of parity. The bigger subsidy, authorized by congressional revision of the Wool Act last summer, was designed to spur wool output to 300 million Ibs. annually from a near-record low of 230 million Ibs. this year.
Although the boost was originally proposed by wool-state Congressmen as a defense measure, it was also...
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