This week’s British Wool sale - held on Tuesday 16 May - met a more positive trade than the previous auction.

The clearance rate of 87.7% of 1,530t on offer was 16.2% higher than the previous sale, which had a similar offering.

The average sale price increased by 3.5%, with the greasy price listed at 77.6p compared with 74.9p on 24 April.

However, the sale report highlights that the mix of lots on offer was better than the last sale and that this situation is responsible for the increased price rather than any great movement in the market.

The price of wool traded in British Wool auctions is now running about 10p/kg on average lower than the corresponding previous 12 months.

Returns

British Wool states that the lower prices will, unfortunately, feed through to the returns the organisation is able to offer members.

The clearance by wool type is listed as follows:

  • Fine wool 95%.
  • Medium wool 98%.
  • Mule wool 95%.
  • Hill wool 100%.
  • Mountain wool 63%.
  • Lambs wool 100%.
  • High costs

    At last week’s Balmoral Show, British Wool / Ulster Wool chief Andrew Hogley said the payout for the 2022 wool clip delivered by farmers to the organisation would be “fractionally down on last year”.

    Hogley said the price of wool would likely end up in the region of 30p/kg (34c/kg) for Texel or Mule-type wool and 20p/kg (22.7c/kg) for Scottish Blackface wool.

    The payout in 2022 for the 2021 wool clip was up 135% on the previous year at an overall average of 36.4p/kg (41.4c/kg).

    It was hoped at the time that the 2022 wool clip would realise a higher value, but the organisation states that increased costs in wool processing and consumer price inflation have negatively affected the wool market.

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    High costs impact wool price pay-out