TYPES AND MARKET CLASSES OF LIVE STOCK 273 



valued at $35,579,823. The average value per pound would 

 thus be 18.1 cents. We export less than 100,000 pounds of wool 

 annually. American wool growers produce slightly more than 

 one-half of the wool used by American wool manufacturers. 

 Australia is the largest exporter of wool, the figure for the cal- 

 endar year, 1912, being 693,496,000 pounds; Argentina ranked 

 second with 363,680,000 pounds; South Africa was third with 

 185,471,000 pounds; and New Zealand was fourth with 175,982,000 

 pounds. The four countries mentioned furnish over three- 

 fifths of the exports of the world. The principal importing and 

 wool-manufacturing countries are France, Great Britain, Ger- 

 many, United States, and Belgium, in the order named. These 

 five countries annually consume over four-fifths of the total 

 imports of the world. 



Principal American wool markets. The principal wool 

 markets in the United States are Boston, Chicago, Philadelphia, 

 St. Louis, and New York. During the past few years Boston 

 has handled nearly 75 per cent, of the total wool crop of this 

 country, and nearly 60 per cent, of the foreign wool shipped into 

 this country. Wool is purchased from the producer by different 

 methods depending upon the size of the clip. Domestic wools 

 are largely sold to local wool buyers who take the whole clip 

 of the neighborhood regardless of quality or cleanliness. Some- 

 times the country storekeeper buys wool and resells to the 

 travelling buyer. Cooperative wool-selling agencies have been 

 formed in certain localities, particularly in Minnesota and Wis- 

 consin. The advantages of these organizations are discussed 

 in a later paragraph. Territory wools are sold mostly to buyers 

 representing eastern wool dealers. In a few cases they are sold 

 to buyers representing manufacturers. The western wool 

 grower may also consign his clip to a commission house to be 

 stored and sold for a certain commission charge. 



Factors that determine the value of wool. The value of 

 wool depends upon, certain well-established factors, many of 

 which have been indicated and discussed in the foregoing para- 

 graphs on wools and wool manufacture. Following is a list of 

 these factors.* 



1. Shrinkage. American wools may shrink from 25 to 80 

 per cent. The loss in scouring is a complete loss to the manu- 

 facturer. Grease wools are valued on a scoured basis. Sand, 



*U. S. Dept. Agr. Bui. 206. 



