Wool price enjoys further increase of nearly 25%

Against increasing prices for many in the sheep and beef sectors, wool has also enjoyed a more buoyant trade.

British Wool typically offers between 1,000 and 1,500 tonnes in each of its 18 online auctions held throughout the year. Sales are made to wool merchants which supply processors and manufacturers both here in the UK and internationally.

Brendan Kelly, Chairman of Ulster Wool, says: “Demand for Ulster wool from the very first auction of the season in early July has been strong. We have seen full clearances in most of the 10 auctions held so far in the 2024/25 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.

Brendan says: “As a collective marketing organisation, everything Ulster Wool does is about adding value to members’ wool. 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. Unlike other wool buyers, Ulster Wool is representing the best interests of members and wants to see wool prices increasing.

“To maximise the returns for all sheep farmers, we need members to return their fleeces to us in 2025. If you still have wool on-farm, contact us to arrange delivery or collection, as there is still demand.”