Quotes for lowland wool have increased by a further 10c/kg in the last fortnight and now range from 65c/kg to 70c/kg.

This is double what was paid by local merchants for wool last year and comes on the back of strong demand in recent sales in Bradford.

Increased activity by Chinese buyers has resulted in sharp lift in demand in the Bradford wool sales, with the last auction in mid-May seeing a 6.8% lift in prices and an almost total clearance of product.

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Another sale which is due to take place next week is expected to give further impetus to the wool-price recovery.

Irish prices for white Scotch wool have risen to 34-40c/kg, while black Scotch wool remains at 15-20c/kg. The changed tone to the trade for lowland wool comes just as the shearing season kicks off.

While farmer representatives have welcomed the lift in prices, they point out that the return from wool is still significantly below the cost of shearing.

Prices

Shearing prices range from €2.50/head to €3/head, which is around €1.00-1.25/ewe more than the value of their wool.

However, IFA sheep committee chair, Adrian Gallagher, said he hoped the lift in prices would result in a change in attitude and mindset among farmers towards wool.

If wool prices could help offset some of the shearing costs, he said farmers could be encouraged to treat wool as a saleable product again rather than waste.

INHFA president Phelim Molloy called for further funding into alternate uses for wool. He pointed out that wool was a naturally bio-degradable product that was nutrient rich.

Research trials on shredding or pelletising wool should be considered, he said. “It’s all about product research and development to drive alternate uses and drive demand,” Molloy maintained.

Meanwhile, Kerry IFA sheep chair Eamon Horgan asked how the price of wool from hill sheep had fallen to 15-20c/kg, when it made the equivalent of €1.15/kg in 1990.

“Talking of cents per kg is a waste of time it’s costing farmers €2.50 and €3 to shear the sheep,” Horgan said.