New season wool is now arriving at the Ulster Wool depot in Co. Antrim. Traditionally, Balmoral Show is the start to the new wool season in Northern Ireland.<\/p>\n\n\n\n
Ulster Wool chair, Brendan Kelly, said: \u201cIt has been the usual slow start to the wool season. Volumes coming into our depot in Muckamore will start to build up during the weeks ahead.\u201d<\/p>\n\n\n\n
Kelly, who is also Northern Ireland\u2019s representative on British Wool, was recently re-elected for a further three-year term.<\/p>\n\n\n\n
\n\u201cA key objective is to ensure that the monthly wool auctions are delivering the best possible price on behalf of flock owners.<\/p>\n<\/blockquote>\n\n\n\n
\u201cIt\u2019s far from bad news in this regard. We now have 164 licensees committing to use and specifying UK wool in their products.\u201d<\/p>\n\n\n\n
\u201cBritish Wool is also working closely with organisations in both New Zealand and Australia to secure improvements in the global prices paid for wool.<\/p>\n\n\n\n
\u201cCurrently, the prices being achieved at British Wool auctions are on a par with those being secured in New Zealand for comparable grades of wool,” he said.<\/p>\n\n\n\n
Significantly, Kelly is predicting a reduction in wool volumes handled by British Wool over the coming 12 months. \u00a0<\/p>\n\n\n\n
Kelly also confirmed that fleece weights were lower in 2023, relative to what would have been expected in a normal year.<\/p>\n\n\n\n
Wool returns <\/h2>\n\n\n\n
As a result of the reduced wool clip in 2023, wool returns are similar to last year for Ulster Wool members in 2024.<\/p>\n\n\n\n
\u201cPrices strengthened in the autumn, but have weakened again over the last two months, with mountain wool types struggling all season. As a group, along with British Wool, we handled 2,500t less wool in 2023, primarily due to lighter fleeces.<\/p>\n\n\n\n
\u201cOur typical member delivered 10% less wool in 2023 than in 2022,” he added. <\/p>\n\n\n\n
Kelly explained that decline in wool volumes reduced returns by around 7p\/kg, and that if Ulster Wool had handled the same weight as the previous year, many grades would have been up 20p\/fleece.\u00a0<\/p>\n\n\n\n
\u201cEvery additional 500t we handle, improves returns for all members by 1.5p\/kg,” he said. <\/p>\n\n\n\n
With plastics positioned as wool\u2019s greatest competitor, low wool prices are an issue globally.\u00a0<\/p>\n\n\n\n
New income streams are making a growing contribution towards members\u2019 payments. The traceability scheme generated \u00a3150,000, while grading for the Isle of Man and other initiatives also boosted returns.<\/p>\n\n\n\n
The chair continued: \u201cWe are committed to creating long-term value for sheep farmers.\u00a0 <\/p>\n\n\n\n
\n“Sheep farmers can be a stronger force by supporting Ulster Wool together.\u00a0 We understand the recent wool prices have been disappointed to many, including ourselves.\u201d<\/p>\n<\/blockquote>\n\n\n\n
\u201cBut with the initiatives we have in place, from traceability to our consumer marketing activity and our licensing scheme, we truly believe that the long-term outlook is encouraging.<\/p>\n\n\n\n
\u201cAs such, we urge sheep farmers to continue supporting us as we continue to navigate these difficult times. Working together, we can build a positive future for wool.\u201d<\/p>\n\n\n