A fall in wool volumes in 2023 have impacted returns this year by around 7p per kg, British Wool has said amid 'difficult times' for the sector.
The overall lower wool intake weight has impacted returns, with most core grades up 1p or 2p per kg, while Mountain grades are slightly lower.
British Wool said prices strengthened in the autumn but weakened again over the last two months, with Mountain wool types 'struggling all season'.
It handled 2,500 tonnes less wool in 2023 primarily due to lighter fleeces, with a typical British Wool member delivering 10% less wool in 2023 than in 2022.
Jim Robertson, chairman of British Wool, said the co-operative's auction prices for the season were on a par with New Zealand.
"The decline in wool volumes reduced our returns by around 7p per kg," he explained.
"If we had handled the same weight as the previous year, many grades would have been up 20p per fleece.
"Every additional 500 tonnes we handle improves returns for all members by 1.5p per kg.”
With plastics positioned as wool’s greatest competitor, low wool prices are an issue globally.
The rise of oil-based fibres over recent decades has driven down the value of wool.
"We understand the recent wool prices have been disappointed to many, including ourselves,” Mr Robertson continued.
“But 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.
"As such, we urge sheep farmers to continue supporting us as we continue to navigate these difficult times."
