Prices and demand at wool auctions continue to increase

The second half of the 2021 selling season sees continuing strong demand and improving prices in the wool market.

Over the last 12 months, Ulster Wool auction prices have increased by more than 50% which means better returns for our members. The UK scouring plants remain busy and we are seeing the stocks of sold wool that are stored in our warehouses being utilized.  This bodes well for the market recovery to continue through the rest of the season.

We see consistent competitive bidding across a full range of types with higher value types such as Medium, Mule and Cheviot Cross achieving prices at auction in the range of 85p to 95p per kg with some better lots selling above 100p per kilo.

The price differential between No. 1 and No. 2 grades is also becoming more evident after being largely absent over the last 18 months.  Organic certified wool is also achieving a significant premium with speciality types such as Herdwick and Bluefaced Leicester continuing to attract prices above those we saw pre-pandemic.

Andrew Hogley, CEO, Ulster Wool said: “Ulster Wool’s mission is to drive sustainable demand in order to maximise the value of wool and does this through the collective marketing of the clip on behalf of its members.  The only way sheep farmers can achieve better returns and receive the true market value for their wool is by supporting Ulster Wool. Given improving prices, lower costs and no carriage fees from collection sites our returns to members will be much better than last year.  There is still time for any farmers with wool still on the farm to deliver into us this season.

Mr Hogley added: “With exciting new initiatives such as the Wool Britannia carpet yarn launch by the Headlam Group and a Harrison Spinks traceable mattress range we are driving new demand for wool and increasing its value which puts Ulster Wool in a much stronger position to deliver better returns for our members.”