I had this problem too. Is your mouse an optical mouse or have a rollerball? My old rollerball mouse used to have it's roller pins spin due to the mouse work surface not being perfectly level and the rollerball not always touching the roller pins. Check the level of the work surface. Until I got an optical mouse, that solved my problem.
Is it just wobbling or is it moving all over? Ive noticed on optical mice that if the sensor area gets really dusty it will kind of shake, just blow it out.