British Wool has confirmed that its monthly wool auction prices have increased by 25% since the beginning of the year.
Against increasing prices for many in the sheep and beef sectors, wool has also enjoyed a more buoyant trade.
According to Ulster Wool chairman, Brendan Kelly this is good news for sheep farmers in Northern Ireland: “Approximately 60% of the 2024 wool crop has now been sold.
“Markets are exceptionally strong at the present time. And this trend will be fully reflected in the wool payments forthcoming later in May.”
Ulster Wool Co-op is British Wool’s partner organisation in Northern Ireland.
Wool auction
British Wool typically offers between 1,000t and 1,500t in each of its 18 online auctions held throughout the year.
Sales are made to wool merchants. In turn, they supply processors and manufacturers both in the UK and internationally.
“Demand for Ulster wool from the very first auction of the season in early July has been strong,” Kelly continued.
“We have seen full clearances in most of the 10 auctions held so far in the 2024/2025 season. Approximately 57% of 2024’s wool has now been sold with some core types seeing more than 60% sold.
“We hope improved prices will encourage those farmers with wool still on the farm to send this in. We appreciate prices are not at the level we’d like them to be, but the market and prices are improving which is encouraging to see.”
Ulster Wool works with a wide range of manufacturers and retailers to encourage more use of wool and to create demand on behalf of its members.
Recent marketing initiatives have included a partnership with ‘Shaun the Sheep’ to support retailers in the carpet sector.
“As a collective marketing organisation, everything Ulster Wool does is about adding value to members’ wool,” Kelly added.
“The demand we work hard to create from manufacturers and retailers flows back to the auction buyers, increasing the competitiveness in the auction and making wool less of a traded commodity.
“We are committed to collecting wool and providing a service to all Northern Ireland sheep farmers to drive sustainable demand for Ulster wool to maximise returns for our members.”
In order to maximise the return for all sheep farmers, Ulster Wool has said that it need members to return their fleeces in 2025.
If you still have wool on-farm, the advice is to contact Ulster Wool directly to arrange delivery or collection.
