Wool markets continue to be fleeced in 2020, with the Central Statistics Office (CSO) confirming that wool prices for April were back 17.9% year on year.

Wool prices are forecast to fall by up to 35c/kg on 2019 levels as a result of a collapse in demand on the back of COVID-19.

The CSO’s latest agriculture price indices report shows that, overall, the prices farmers receive for their output were back 4.4% year on year for the month of April.

Milk prices were back 5.9% and crop output was back 22%.

Cattle prices decreased by 2.1% and calf prices were up 9.3%. However, the CSO noted that as a result of mart closures due to coronavirus, the number of surveyed transactions in April dropped to about 5% of the normal monthly surveyed transactions.

Comparison

"The overall cattle price indices and the sub-indices for cattle excluding calves are composed of data from both factory sales and sales at marts.

"This should be borne in mind when comparing data from the April agricultural price indices to those of previous months," it said.

There were some positives in the latest report, with pig farmers in April receiving 20% more in pig prices than they did in April 2019. This rise is not likely to continue, with pig factories last week called on to stop price cuts by the IFA.

Sheep prices were up slightly year on year by 3.1%.

Fertilisers and feed prices drop

Overall, input prices were down 3.9% year on year, with a drop in fertiliser and feed prices, in particular.

In terms of fertiliser prices, straight fertilisers were back 11.6% and compound fertilisers were back 9%.

The price of feed was back 4.1% year on year, with straights back 8.4% and compound feed back 3.9%.

Energy costs for farmers were back 11%, with electricity back 1.5% and motor fuel back 14.6%.

Read more

Pig factories called on to stop price cuts

Wool markets fleeced by coronavirus