Wool market is a ‘catastrophe’ - UFU

It has not been operating since the beginning of February following the coronavirus (COVID-19) outbreak and at present, only a few local online auctions are taking place.

The UFU are hopeful that DAERA have taken their concerns outlined in the letter on board, alongside the issues Ulster Wool highlighted during their meeting with Minister Poots on Wednesday (24 June) regarding the catastrophic state of the wool market.

Nigel McLaughlin, hill farming committee chair said: “The wool sector remains in turmoil due to trade disruptions caused by the pandemic. We wrote to Minister Poots in late May about the grim conditions of the global wool market which are a direct result of COVID-19 and have also been working closely with Ulster Wool and British Wool. We would now like to see steps being taken to address the market conditions.”


“The implications of the wool market combined with the fall of farmgate prices has resulted in sheep producers across the country struggling to get by as all their revenue streams have taken a financial hit. Sheep farmers did not receive much of a balance payment for last year’s wool as huge volumes of unsold wool remain in stock here in Northern Ireland due to the market collapse.
“It is likely that the challenges created by COVID-19 will linger for the next 12-18 months stressing the need for financial intervention to address the global wool market crisis. We have requested for financial solutions from DAERA to help alleviate the situation and help sustain Northern Ireland’s family-run sheep businesses. The entire sheep industry benefits from Ulster Wool being successful and we would ask that the Minister considers this as part of his COVID-19 support package for the sheep sector.”

A spokesperson for Ulster Wool said: “We are very grateful for the time Minister Poots took to listen to the issues Northern Ireland sheep farmers are facing due to the effective shutdown of the wool market and look forward to hearing back from his department shortly.”

Earlier this month Ulster Wool confirmed that the global cross bred wool market slowed significantly in February and then shut completely at the beginning of March. It remains closed.  February to May is normally the busiest selling period of the year and, as a result, there is approximately 7m kgs extra of unsold 2019 clip wool on top of the 3m kgs that would normally be in store in the UK at this time of year. 

According to Joe Farren, CEO of Ulster Wool, the business is in a sound financial position.

He said: “We are pressing the government to allow us participate in all the various schemes set up to help businesses through the Coronavirus crisis so that Ulster Wool can achieve the best outcome for its producers.”

Farren also confirmed that Ulster Wool’s depot and headquarters at Muckamore in Co Antrim are operating as normal.

“We are collecting and receiving wool as usual,” he stressed.