January 4, 2008
January 4, 2007 - Wool loan rates for 2008 are unchanged from the 2007 loan rates and remain at $0.42, $0.40 and $0.38 for region 1, region 2 and region 3, respectively, for ungraded wool.
The U.S. Department of Agriculture's Farm Service Agency (FSA) announced this week the 2008 loan rates and posted prices for graded and ungraded wool, by region.
"Announcement of the 2008 wool crop loan rates and the recent Congressional extension of the 2002 Farm Bill authority is encouraging news for producers that plan to sell wool in the coming weeks prior to the new Farm Bill," commented Peter Orwick, executive director for the American Sheep Industry Association. "Due to the numerous categories of graded wool loan rates, producers are encouraged to view the 2008 rates by contacting their local FSA office or by going to the FSA Web site at www.fsa.usda.gov/FSA/webapp?area=home&subject=prsu&topic=col-nl-wm
. Staff contact: Peter Orwick, ext. 33