A welcome return of demand for British wool resulted in a 99% clearance at the latest industry auction and a rise in price to an average 73p per kilo.
Bradford-based British Wool reported 1.2 million kilos were sold at the fifth auction of the season, with particular interest in Blackface wool, while specialist types such as Bluefaced Leicester and Welsh Mountain achieved record prices.
The co-operative’s chief executive Andrew Hogley said he was confident the current demand would be sustained and the recovery in the wool market would continue through the year.
He added: “As we head towards the winter months and with more than
one million kilos of wool being delivered into us this season from producers who did not deliver in the 2020 season, I’d encourage any producers who still have wool on the farm, to deliver this to us as soon as possible to ensure they benefit from the current recovery in the market.”
British Wool, which is owned by Britain’s 35,000 sheep farmers, not only collects, grades and sells the product, but is also responsible for driving sustainable demand to maximise the value of the annual clip for producers.
However, prices have been so low in recent years some farmers have chosen to destroy their wool or tried to find alternative markets rather than deliver it to the co-operative.
Mr Hogley said: “The only way producers can achieve better returns and receive the true market value for their wool is by supporting British Wool.
“With a reduced cost base, recovering market and exciting new initiatives such as the recent Wool Britannia carpet yarn launch by the Headlam Group and a Harrison Spinks traceable mattress range, we are driving new demand for British wool and increasing its value.
“This puts British Wool in a much stronger position to deliver better returns for our producers.
“Every kilo of wool handled makes an important contribution to supporting British wool.”