As the shearing seasons starts to gain momentum, Ulster Wool has confirmed that the wool market is continuing to recover with the 2020 selling season ending strongly with robust demand and improving prices.
Since February prices have started to recover with the average auction price at the end of the 2020 selling season finishing at 69p per kilo compared to 50p-55p for most of the past 12 months.
Some 97 per cent of the 2020 wool clip has now been sold with the remaining 2020 wool carried forward into the new selling season, which starts in July.
Due to the shearing season this year being at least three weeks behind compared to the previous season, this will support supply and the mix of wool available for the early season sales.
Andrew Hogley, CEO, Ulster Wool, said: “As the 2021 wool selling season starts in July we are optimistic the price recovery we have seen in recent months will continue during the course of the next year.
“With a healthier stock position, reduced cost base and recovering auction prices, this puts Ulster Wool in a much stronger position to deliver better value for our producers in 2021.”
Mr Hogley concluded: “I’d encourage all producers to support Ulster Wool and for those who have 2020 wool still on the farm to deliver this into us this season.
“Every kilo of wool that Ulster Wool handles makes an important contribution to supporting your organisation, ensuring we can continue to provide a high standard of service to all producers, drive demand with our customers and downstream manufacturers and continue to represent your best interests as wool producers.”