Wool Producers to Get $105-Million Subsidy
Associated Press
Washington —
Wool producers will get about $105 million in federal subsidies to help make up for low prices last year, the Agriculture Department said.
The 1990 support price level as determined by Congress was $1.82 per pound of wool. But the average market price was only 80 cents per pound.
In addition, mohair producers will collect about $60 million for their 1990 sales. Mohair supports were slightly more than $4.53 per pound, while the market price averaged only 93 cents.
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