I'm a pre-washer, so I would have already washed it as soon as it came in the door. However, I'm wondering why you're cutting the fabric up? I know there's the Bonnie Hunter system of cutting scraps into certain sizes so there's always plenty to make her scrap quilts, but I always thought that was more for scraps than for yardage. I prefer to keep my stash in whatever size it is until I know what I want to do with it. Of course if you've already got a plan for your yardage, cutting it up may make complete sense.