Word: wool
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Dates: during 1950-1959
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Sheep raisers regard ewes as rather lazy beasts; most of them produce each year only one crop of lambs. The rest of the time they contribute nothing but wool to their owners' support. Last week Armour & Co., which has a commercial interest in lamb chops, announced a method of making loafing ewes do double duty...
...higher dollar prices for many of their raw materials (e.g., rubber, tin, wool...
...without authority hands over, remits, communicates, publishes or divulges economic, political, financial, military or industrial data which even though not secret are not yet intended for publication." Said an editor of a Buenos Aires financial paper: "From now on I won't even be able to estimate the wool we have on the backs of our unshorn sheep...
...crop was short because floods during the last three months had drowned some 4,000,000 sheep, disrupted transport of the clip to the market. When Auctioneer J. L. Brassil asked for bids on a lot of grease wool (i.e., raw wool) that would have brought 91? a Ib. only two months ago, a Frenchman quickly offered $1.12, lost out to a Briton who got it for $1.32. Said Auctioneer Brassil: "Never did I dream of such prices . . ." The average: 94?, v. 60? last season...
...good for Australia, such prices were bad news to U.S. woolen mills, which can expect even higher prices this fall when they start bidding for fine-grade apparel wool (last week's auction was mostly limited to grade B stock). The U.S. will import more than 300 million Ibs. of wool this year; textile manufacturers fear that the skyrocketing wool prices will boost the cost of woolen cloth by about $1 a yard, tack an extra $5 on a man's good-quality suit by next spring. And last week the tight-squeezed wool market got ready...