Wool returns received by British Wool’s members are at the highest level since 2018. This has been driven by strong demand from buyers over the last year, with auction prices in March hitting levels not seen since October 2018.
Commenting on the trends, Jim Robertson, Chairman of British Wool, says, “With an average auction price of £1.00 per kg, British Wool’s sale price is 18p per kg higher than last year.
Coupled with strong cost control, this price increase has flowed through to improved member returns. ”There was 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 returns this year. Jim says, “Demand for British wool through the middle of the selling season was exceptional, with many auctions having nearly full clearance.”