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Trevor Richards British Wool Chairman

British Wool Prices

British Wool provides long term support for sheep farmers

British Wool is focused on two key deliverables for sheep farmers – the price returned to producers for their wool, and the levels of service delivered.

Over the last 12 months, the global wool market has proved challenging, with prices affected by reduced demand for crossbred wool in China and uncertainty following Brexit. Despite this, British Wool auction prices throughout 2017/2018 have been stable, averaging at £1.00 per kilo, with good clearance rates at auction throughout the season.

Trevor Richards, British Wool Chairman commented “There’s clear evidence the market sees the value of British wool, backed up by strong demand from buyers and good clearance rates at auction. If we look back 12 months ago, prices for British wool were 20% lower than New Zealand wool. Recent months have seen that gap close, with a premium being paid for some British types. It’s also worth remembering that British Wool always pays more than the competition buying wool direct from farmers – that’s because we are a producer organisation, standing up for producers best interests. The more producers who market their wool through British Wool, sees better returns for every producer, which is why we’ve recently launched initiatives like our new entrants scheme, which provides early years cash flow support to farmers who are new to wool production.”

Joe Farren, CEO, said “Joining British Wool means long term support for sheep farmers. It’s important we think about the future, and implement a strategy to secure long term success. This is where British Wool comes into its own – we have a strategic role to play in assessing and developing new market opportunities, and increasing consumer demand for British wool. Initiatives like this will deliver greater rewards across the long-term, securing the future of the wool industry.”

Ends

Notes to editors:

British Wool is based in Bradford and is owned by approximately 40,000 sheep farmers in the UK.  It collects, grades, sells and promotes British Wool to the international wool textile industry for use in flooring, furnishings and apparel.

British Wool has recently launched a new entrant’s scheme, designed to support sheep farmers who have recently entered the industry. The scheme allows eligible farmers to receive 100% of their clip value as an upfront payment for their first two years, along with a priority wool grading service through British Wool’s nationwide depot network.  More information at http://www.britishwool.org.uk/page/producer-services/new-entrants-scheme.php

Average clip value

 

Breed

Average clip value (£/kg)
(After all costs and excluding VAT)

2017 Clip Value

2018 latest prices

Suffolk

£0.59

£0.59

Romney

£0.80

£0.80

Texel

£0.64

£0.67

Mule

£0.64

£0.71

Cheviot

£0.97

£0.97

Radnor

£0.60

£0.66

Welsh

£0.30

£0.30

Swaledale

£0.30

£0.30

Blackface

£0.52

£0.55

 

Competitor comparison

 

Breed

Average clip value (£/kg)
(After all costs and excluding VAT)

2017 Actual

Competitor offer

British Wool Premium

Suffolk

£0.59

£0.55

6%

Romney

£0.80

£0.55

46%

Texel

£0.64

£0.55

17%

Mule

£0.64

£0.55

16%

Cheviot

£0.97

£0.55

76%

Radnor

£0.60

£0.55

8%

Welsh

£0.30

£0.30

0%

Swaledale

£0.30

£0.25

18%

Blackface

£0.52

£0.40

31%

 

Images:

Trevor Richards British Wool Chairman

Contacts:

For further information or to arrange an interview, please contact:

Gareth Jones

Producer Communications Manager

07590 355885 or garethjones@britishwool.org.uk

or

Lauren Boulton

Producer Communications Assistant

01274 688666 or laurenboulton@britishwool.org.uk

Issued by agpo@britishwool.org.uk

British Wool Promotion

Raising awareness amongst consumers about the unique benefits offered by the fibre.

Since its launch in 2010, The Campaign for Wool has influenced a new demand for wool on an international scale, and it’s efforts have seen an outstanding threefold increase in the price farmers receive for their wool.

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