Sheep Event: Wool prices show early promise

Sheep farmers should see a welcome boost to their flock incomes this year with a predicted lift in wool prices being sustained in recent auctions held by the British Wool Marketing Board.

BWMB chief executive Ian Hartley told producers at the event that prices at the last two wool sales had been very close to forecasts issued in the BWMB price schedule. “We knew this was achievable based on vigorous activity late last season and the buoyant market has returned that promise.

“Taking Mule wool as a prime example, the BWMB forecast price was 95p/kg, at the most recent sale it achieved 93p/kg. Considering that in 2009 it was selling for 65p/kg there has been a giant leap forward.”

Many things are working in favour of prices rising, including retailers responding to the environmental agenda at the same time that the world wool stocks have declined. “BWMB sales have seen brisk bidding and excellent clearance rates, both of which bode well for the future sales and importantly the uplift in prices will mean producers who have been loyal to BWMB will be rewarded for that loyalty.

• For full coverage for the 2010 NSA Sheep Event click here.