Wool Producers Reminded of 40-Cent Wool LDP Currently Available
May 17, 2021
The U.S. Department of Agriculture’s Marketing Assistance Loan and Loan Deficiency Payment programs could provide welcome assistance for wool producers.
Now is a good time for those who haven’t already to sign up with their local Farm Service Agency office for these programs. A grower must maintain “beneficial interest” before selling, however, once a grower signs up and provides evidence or estimate of wool production, the grower may choose a day to sell his or her wool at an advantageous time.
Currently, the ungraded LDP program – which was used by most producers in 2020 – offers a 40-cent LDP (per pound grease). This has been the going rate for most of 2021. This week, graded wools between 23.6 and 25.9 micron are also eligible for a 35-cent (per pound clean) LDP. Current rates are posted on the American Sheep Industry Association website each Tuesday afternoon.