Wool Prices Rise by 25%

Wool Prices Rise by 25% Amid Growing Demand

British wool prices have surged by nearly 25%, driven by strong demand at recent auction sales, according to British Wool, the farmer-owned co-operative.

In a positive turn for sheep farmers, the co-op reported a ‘more buoyant trade’ despite ongoing cost pressures in the sheep and beef sectors.

Jim Robertson, chairman of British Wool, highlighted the strong start to the 2024/25 season.

“We’ve seen full clearances in most of the 10 auctions held so far this season,” he said. “Around 57% of 2024’s wool clip has now been sold, with some key types exceeding 60%.”

Mr Robertson encouraged farmers with unsold wool to send in their fleeces to meet ongoing demand.

“While prices aren’t yet where we’d like them to be, the upward trend is encouraging. The more wool we receive, the better we can maximise returns for all sheep farmers.”

He urged farmers to act soon if they still have wool on-farm.

“If you have fleeces to sell, please get in touch with us to arrange delivery or collection. Demand remains strong, and we want to capitalise on it for our members’ benefit.”

The rise in wool prices offers a glimmer of optimism for sheep farmers after years of challenging market conditions. British Wool remains hopeful that this positive momentum will continue through the remainder of the season.