Wool is currently trading at €1.45/kg to €1.50/kg, according to Vincent Pierce from Laurence Pierce Wool Merchants Ltd, Co Wicklow. Pierce said this time last year it was trading at €1.30/kg to €1.35/kg. Ian Buchanan, Northern Ireland chairman of the British Wool Marketing Board (BWMB), said that there was 100% clearance of wool at the final British wool sale of the 2014/2015 season in Bradford. The next sale is being held on Tuesday 7 July and Buchanan expects the good trade to continue.

“I don’t have any reason to believe that in the short term (the next month) the price of wool will drop,” said Buchanan.