Wool prices up by a third on the year

Wool prices have risen 34% this year, due to competitive bidding by wool buyers.

The indicator price for wool settled at 153p/kg on Wednesday 18 September, up from 114p/kg at the same sale last year, according to figures from the British Wool Marketing Board.

The board has also seen a six-fold uplift in volume sold to date, compared with the same point in the 2012 sales calendar.

BWMB producer communications manager Gareth Jones said better prices and higher demand were here to stay for the remainder of the season.

“We started to see an uplift in demand at the last few of sales in the 2012 selling season and this has continued in to the new season.

“As with all commodities there is a big element of supply and demand involved in driving prices too, and a falling global wool supply coupled with a resurgence in demand has helped boost trade.

“Guide prices for all wool types have been met, with many breed types easily exceeding the guide price issued at the start of the selling season,” he added.

The volume of wool in the 2013 clip is estimated to be 10% lower than the 2012 clip, due to lower average fleece weights and a reduced number of sheep being clipped due to heavy losses earlier in the year.

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