Wool prices this year are looking likely to stay at 2020 levels, according to an Irish Wool Merchant.
2020 was a positive year for sheep prices and so far in 2021, that has continued to be the case, with prices reaching record levels up until recently.
However, wool prices hit a new low in 2020, with the poor-quality scotch wool in cases being worthless, and the best-quality wool worth up to a mere 20c/kg.
To get an insight into what prices farmers might expect for their wool clip this year, Agriland spoke to Kevin Dooley of Dooley Wool Merchants.
He said: “To be honest, it’s early days yet, but as of now I can’t see prices moving off from where they were last year at the minute.
“After the collapse basically of the wool industry last year, it is still in a bad way. There is still a standstill across the world in terms of wool being used and because of that, we are still in the same position as we were this time last year.
“At the minute, prices for fine, good-quality, clean, white wool, are looking like 20c/kg – and then probably 5c/kg for scotch-type wool,” he said.
“That’s what it’s looking like currently. I’ll have more of an idea closer to June on what we’ll actually be quoting, but I can’t see at the moment prices moving off from where they were last year.
“The one good thing I suppoose, is the sales over in the UK have been positive, prices have been static, but wool has been moving and the backlogs of last year are being cleared.
“It’s just hard to know at the minute what way the whole thing will go because it’s early days yet,” Kevin said.
‘Third of customers held onto their wool last year’
Kevin said that about a third of his customers held off selling their wool clip last year.
He added: “Just with the way prices were last year, I’d say about a third of my customers decided to hold onto their wool and see if prices would improve.
“20c/kg was the top price being paid last year and in fact, it got so bad there after Christmas that we actually had to drop it to 15c/kg, because there was just no movement of wool.”
Kevin concluded by saying that despite the poor prices, that when sheep are being shorn they are dagged and shorn in dry weather, and that the wool is stored in a dry place – so as to not hinder the quality of it.