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EXHIBIT C

FOREIGN VALUE OF WOOL IMPORTED INTO THE U. S. AND IMPORT DUTIES

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With the United States on an import basis, the tariff on wool tends to maintain prices of domestic wool above the world market level. The General Agreement on Tariffs and Trade of 1948 in general reduced the duties on wool 25 percent. The duty of 34 cents per clean pound as established under the Tariff Act of 1930 for wool finer than 44's was reduced to 251⁄2 cents. As the general price level has increased, the protection afforded by the tariff has been relatively less, both in relation to wool prices and in terms of prices of things woolgrowers buy. (Exhibit C.)

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*INDICATES CURRENT SUPPLY OF PASTURE FEED FOR GRAZING RELATIVE TO THAT EXPECTED FROM EXISTING STANDS UNDER VERY FAVORABLE WEATHER CONDITIONS

U. S. DEPARTMENT OF AGRICULTURE

NEG. 3598-56 (10) AGRICULTURAL MARKETING SERVICE

Severe to extreme drought and very poor pasture feed condition prevailed for a prolonged period in a large part of the West and Southwest where the sheep and wool production of our country is largely concentrated. However, since early last year, range conditions

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in most areas of the West have been the best in several years.

(Exhibit E.)

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23102-583

MIL. LBS.

EXHIBIT G

CCC HOLDINGS OF WOOL ACCUMULATED FROM 1952-54 PRICE SUPPORT LOAN PROGRAM

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Source: Fiscal Division, CSS, through October 1955; Boston CSS Commodity Office reports beginning November 30, 1955.

Over 180 million pounds of wool were accumulated by CCC from the 1952, 1953, and 1954 price-support loan programs. At the beginning
of the 1955 marketing year, the first year under the incentive program, these carryover stocks totaled 150 million pounds. The CCC
holdings were progressively liquidated mostly by competitive bid sales and were completely out of the picture as a depressing influ-
ence on the market by the end of 1957. (Exhibits F and G.)

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