Despite reduced prices for British Wool at the the past two auction sales, the co-operative remains confident its prices for this coming year are at their highest point since October 2018.
Jim Robertson, chairman for British Wool says increased demand last year coupled with strong cost control has led to average auction prices of £1.00 per kg. This means that British Wool’s price is 18p per kg higher than this time last year.
“There has been a significant increase in demand for cross-bred wool through the autumn and winter, with prices in both the UK and New Zealand showing a strong recovery. This has resulted in a 70% increase in member prices,” he said.
“As wool prices improve; better returns should hopefully encourage more UK farmers to send in their wool. This year, British Wool will be opening several new collection centres around the UK to improve convenience for members. We want to make it as easy as possible for farmers to deliver their wool.
He added that demand for British wool through the middle of the selling season was exceptional, with many auctions having nearly full clearance. This led to British Wool having sold 83% of its supplies by mid-April. However, the past two sales have been far from buoyant due to the influence of US tariffs on China – the main buyer of wool. At the sale on April 15, only 522tonnes of the 1021t forward sold, which represents a 51.1% clearance. As a result, average prices fell to £1.414 per kg with greasy wool cashing in at 91.8p.
This month’s sale on May 13, also saw also a reduced trade with only 722t selling of the 1089t forward, with clean and greasy types averaging £1.413 and 94.8p per kg respectively.
“British Wool is the only organisation in the world that collects, grades, sells, and promotes fleece wool. We are committed to collecting wool from all sheep farmers, regardless of quantity, quality, type, or location. Demand for wool from UK farmers is improving, and to maximise returns, British Wool urges its members to send in their fleeces in 2025. Please contact your local depot or visit the British Wool website for details of your nearest collection centre.”
Returns for major wool types
Wool type 2023 av return 2024 ave return best return
Fine (eg. Suffolk) £0.20 £0.37 £0.51
Romney £0.29 £0.46 £0.57
Medium (eg. Texel) £0.26 £0.42 £0.53
Mule £0.28 £0.46 £0.55
Cheviot £0.32 £0.57 £0.60
Fine / Medium Hill £0.23 £0.42 £0.47
Welsh £0.05 £0.11 £0.12
Swaledale £0.05 £0.16 £0.17
Blackface £0.12 £0.31 £0.44
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