Wool producers to welcome significant price increase

Wool prices have reached a twenty five year high and the promise of much better returns to the producer will be the clear message from the British Wool Marketing Board (BWMB) at the NSA event to be held at Ballymena Livestock Market on Monday 4th July 2011.

Ian Buchanan, Northern Ireland Board Member says,“We feel the time is right for wool, and our auction prices are showing this to be correct.”

Wool prices at auction have increased substantially since October 2009, and the result is that the 2010 Wool Clip Value is double that of 2009 and three times that of 2008.“These values will be reflected in the 2011 Wool Cheques and I'm sure producers will welcome the significant increase this year”. All producers have now received the new layout Price Schedule and personalized estimated Wool Cheque.“Which I’m sure will make pleasant reading”Mr Buchanan added.

As the Board did last year it is projecting average producer clip values based on the end of season actual auction sales results between January and April. On this basis the projected average 2011 producer Clip Value of the Blackface breeds is anticipated to achieve£1.14/kg along with Texel/Lleyn at£1.30 and Mule/Cross at£1.38/kg“With 99% of the 2010 clip sold the current level of prices are expected to be maintained this calendar year”says Mr Buchanan.

The Wool Board is exhibiting at the event and will be running an Identify the Breed competition, kindly sponsored by Greenmount Country Stores Ltd.

“A selection of fleeces from different breeds will be on display and we’ll be inviting farmers to identify each breed. We hope this will encourage wool producers to come to the stand to look at the various displays and discuss wool”said Stephen Ballinger, BWMB’s Regional Manager, who will be on hand throughout the event to meet with and answer any questions from producers.