Market Update

Positive outlook for wool

With the shearing underway on UK sheep farms, The British Wool Marketing Board reports a positive outlook for UK wool in 2015, with wool prices set to increase for most breed types.

UK wool prices have risen over the past decade, with producers in 2015 expecting to receive over a £1 per kg, compared with £0.40 ten years ago. Wool production has been on a long-term downward trend, however growth in demand from China has driven markets over the last few years, and growth in demand is set to continue despite the slowing down of the Chinese economy to GDP growth of around 7% per year, compared with over 10% over the last decade. An international initiative started by Prince Charles in 2010 – ‘The Campaign for Wool’, has also helped to raise the profile of wool  among consumers as a natural sustainable fibre.