Wool cheques to be smaller
SHEEP farmers will receive less for their wool this year than last years 133p/kg record.
Lack of demand on a volatile world market has seen auction prices dip to 109p/kg during the first half of the current marketing year.
But the good news came at last weeks Bradford auction, which saw a total clearance of offerings at prices 5% up on the recent past.
China, a major buyer of 20% of the worlds wool, had stopped buying in the southern hemisphere because of currency and economic problems and this had a domino effect on the British wool market, says Ian Hartley, Wool Board managing director.
Chairman Alun Evans told the Boards annual meeting he had been disappointed over the year to see some producers opting to sell their wool elsewhere. *