With many sheep farmers getting their flocks shorn over the past while, and many more preparing to do the same over the coming weeks, much talk will be about what wool will be worth this year.
After a terrible 2020 for wool prices – which have been on the decline for many years now – 2021 doesn’t look like it’s going to be any better, from talking to Vincent Pierce of Laurence Pierce Wool Merchants, based in Co. Wicklow.
Speaking to Agriland about wool prices for this year, he said the outlook is much the same as 2020.
He explained: “You’re talking 20c/kg for lowland wool at the moment and I don’t really see that improving in the short-term.
“Scotch wool – which we won’t be seeing much of until later in the season – again, as last year, you’re looking at 5c/kg.
“We still have huge amounts of scotch wool that we can’t move from last year – and from the year before that.
“We are still in a mess from last year and, in the short-term, I can’t see any lift in price for wool,” Vincent added.
Similarly, another Irish wool merchant Agriland was in touch with during the week said that they were quoting fine wool at 20c/kg.
The merchant went on to say how there has been no improvement from last year, with a lot of wool from last season yet to be shifted; that the trade as a whole is just static and that prices are looking likely to stay as they were in 2020.
Furthermore, the merchant said that the Chinese market is “dead, and that nothing is happening there whatsoever” and that it is “very quiet over in the UK as well“.
The merchant added that wool is coming in, but it’s very slow to do so as it is early days yet.