7 July 1995

A good year for wool

DEMAND for wool is set to strengthen throughout the season, predicts the British Wool Marketing Board.

The late start to shearing has resulted in heavier fleeces of excellent quality, it says.

At the first offering of the 1995/96 year, the BWMB saw a 70% clearance of the 2.43m kilograms available, taking the total already shifted – including forward sales – to over 3m kilograms. The overall average price was 117p/kg, with 50 main grades levelling at 119p/kg.

The UKs 90,000 wool producers will receive an average price of 120p/kg this season. (In 1994/95, the figure was 85p/kg.) The total received consists of an advance payment on this years supplies, and the balance due from last season.