This time the reasons are very different and there is less stress in the system as confirmed by the British Wool strengthening market for wool with prices tactically at their highest levels for four years.
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Good start is half the battle won, since the start of the season, British Wool’s auction prices have well risen by 20% which equates to an average improvement of 17p per kilo. This equates to approximately 40p per fleece mirroring that wool is sitting in a positive scenario.
Andrew Hogley, British Wool’s CEO, said: “It’s encouraging to see the market strengthening and prices improving. Since the start of the season, prices for British Wool have increased by 20%. Average prices for 2024 season wool have increased for every core grade of British Wool.
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Doing a lot of things right such as, “The team focus is on how to sustainably support growth and deliver better prices for British wool besides good news is backed by tests that the wool this season has higher yields. Again nature was kind enough, the incessant rain over the last year means less dirt and grease in each fleece". Proof of pudding lies in the eating; British Wool has been working with manufacturers to strengthen demand for wool to deliver better wool prices and to place it on record it now has more than 160 brand partners on its licensee scheme.
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Similarly, British Wool has made a very pertinent & strategic investment in Nexgen Tree Shelters to facilitate and help bring wool-based biodegradable tree shelters to market. The disruptive innovation shall lead to demand creation for mountain wools over the near-medium-term driving sustainable practices.
More specifically 'A Shaun the Sheep marketing campaign has been launched' promoting and ensuring support for wool carpet sales through UK retailers.
All is well
Sustaining the momentum 873 shearers and wool handlers have been trained on British Wool’s courses this year with almost 700 being awarded a coveted Blue, Bronze, Silver, or Gold Seal.
Andrew alluded stating,“ Recent initiatives are well aimed at attaining stable and sustainable price gains as a feedforward to feedback from the market. However, there is a need for a price rise at this juncture and it is right expectation at the right time. Our depots and drop-off sites remain open and ready to receive wool.”