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Wool Loan Deficiency Payment Now Available in the United States

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Wool Loan Deficiency Payment Now Available in the United States

April 10, 2020

United States – As the wool market struggles during the current global pandemic, now may be the time for wool producers to look into the US Farm Wool Deficiency Payment Program Service Agency.

Also this week, LDP payments were available for fine wool (finer than 18.6 microns), as well as coarse wool (ranging from 26 microns and above). Payment rates change weekly, but wool thinner than 18.6 microns was eligible for a 35 cents per pound payment this week. Wool from 26 to 28.9 microns was eligible for a payment of 23 cents per pound and wool of 29 microns and coarser was eligible for a payment of 24 cents per pound.

“The wool has been in storage, so we understand that there is now an interest in the lending function of this program and we met with the USDA Farm Service Agency to share the latest information and review lending options with or. without objective measurement tests, ”ASI said. Executive Director Peter Orwick.

“It has been over a decade since loans or compensation payments have been widely used, so it is a good idea for the agency to coordinate information between its offices and with sheep farmers. We must work together to maximize the use of this program. It is imperative that the entire wool industry – from buyers to warehouses to producers – share the prices of wool sold to the USDA Agricultural Marketing Department.

Producers who have questions about LDP Wool Program should contact their local FSA office.

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