Prices look to gently rise for producers, according to the British Wool Board. “The wool price is not too bad this year considering we were told it would halve in value,” believes British Wool Board CEO Joe Farren, speaking at Scotsheep. He went on to say: “Historically, we are 25% less than New Zealand wool – but we have now closed the gap.”

He went to explain that in a pricing exercise with independent wool merchants, their research showed their prices were consistently higher. According to their figures, Cheviot fleeces were paid 76% more through the Wool Board than a merchant. Prices this year, he said, would rise maybe 5% – but he conceded the price was still too low: “Nobody is happy returning £1.50 a fleece to farmers.”

The Wool Board is looking to capitalise on the rise of China, which now processes and consumes more wool products than anywhere else in the world. Farren said, on a recent visit to China he saw wool jumpers selling for £1,000 each.

In a new marketing drive, the Wool Board plans to make more of digital advertising and expand in to China. They are spending £650,000 a year in promotion, which is down £150,000 on previous years.

Wool auctions are to be altered to make it easier for smaller buyers to bid, and they are planning to tighten up the ability to use the British Wool brand. “For too long the competition has fed off our success,” said the CEO.