The value of wool has dropped by 17.9% compared with the same month last year.

Figures released from the Central Statistics Office show that prices were holding steady in the first part of the year, but dropped significantly in May 2019. As previously reported by the Irish Farmers Journal, prices of lowland wool were 50c/kg this year, with some producers securing a further 5c/kg to 10c/kg in limited cases.

Grey Scotch wool, typical of Mayo Connemara sheep, traded for as low as 20c/kg, while white Scotch wool averaged 30c/kg.

Shearing cost

These low prices, coupled with the cost of shearing, at approximately €2.30 to €2.50, have left farmers needing to subsidise the costs by €0.75/ewe to €1.25/ewe in some cases.

Meanwhile, in the UK, British Wool has opened an office in Shanghai, helping their planned expansion into the Chinese market.

With British Wool set up in a co-operative-type structure, it collects and sells wool on behalf of farmers and passes back the best possible return.

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