British wool values lift to 10-year highs at auction

Average prices for greasy wool have climbed by 30% at auction over the past four months and are currently trading at their highest levels for almost 10 years.

Roughly 1,200t of wool was sold at British Wool’s January sale, which attracted strong demand from export customers and prices were up across most core grades.

Greasy wool averaged £1.25/kg, its highest since 2016, while clean wool sold for £1.86p/kg.

See also: Buyers compete for wool as prices lift to £1.18kg at auction

British Wool’s intake volume was down 4% year-on-year and more than half of the current clip has already been sold.

Graham Clark, marketing director at British Wool, told Farmers Weekly the first sale of the year was about 5% up, continuing the trend seen during the final quarter of 2025.

Mr Clark said prices were being driven by a combination of robust demand and tight supply, with a lack of wool on the market.

“Sheep numbers in the UK are down and have been for a little while so there is less wool available,” he said.

“Globally there is also less wool available. New Zealand has also had a decline in sheep numbers.

“It’s taken a while for prices to recover since Covid, and there was a backlog of wool in the market. This feels more like a normal market now.”

British Wool has indicated that if the current trend continues, farmers should expect stronger returns for fleeces this year, after several years of lower prices.

Southern hemisphere

The Australian wool market has started the year well, with prices up almost 40% on the year and buyers having to outbid each other in order to secure supply.

Wool prices also lifted in New Zealand due to strong competition among buyers.

Dave Burridge, South Island auction manager at New Zealand agri-business PGG Wrightson, said: “The first South Island sale of the new year saw significant pressure for buyers to secure volumes to fill new wool export business into China and India.

“As with all ships in the harbour that get lifted on a rising tide, the sale saw the same for all wool breeds and types with the very active demand from the auction floor.”