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Thread: wool price

  1. #1
    rosedale
    Guest

    wool price

    anybody know whats happening with wool prices at the moment? Irish and wool board

  2. #2
    Frank_the_Wool
    Guest

    Re: wool price

    Quote Originally Posted by rosedale View Post
    anybody know whats happening with wool prices at the moment? Irish and wool board
    The Irish have been talking it down all summer.
    Yes the price has fallen from the heady levels of last year and the market has been difficult due to cheap wool being dumped by the Irish and Europeans who do not have the benefit of an organised market.

    However the good news is that todays BWMB sale at Bradford, when almost 2 million kgs. were offered. there was a clearance of almost 80% with prices rising.
    The finer white types increasing by 10% from the last sale.

    There was a sale in NZ last night where there was almost a complete clearance with prices much stronger, supplies in NZ are now very tight and the expectation is for prices to further increase here.

    I bet the Irish buyer will not tell you this information!!

  3. #3
    Old Tip
    Guest

    Re: wool price

    Keep up the good work Frank

  4. #4
    b slicker
    Guest

    Re: wool price

    Frank, what do you mean by 'finer white types'?

  5. #5
    Frank_the_Wool
    Guest

    Re: wool price

    Quote Originally Posted by b slicker View Post
    Frank, what do you mean by 'finer white types'?
    Less than 34 micron, reasonably long staple with no Kemp.
    This would be the better cross breeds, finer Texel types as well as Romney, Radnor etc that are suitable for the knitting wool market.

  6. #6
    b slicker
    Guest

    Re: wool price

    This last year, wool price less shearing and rolling costs for Mule and Texel cross ewes and hoggs came to about £2.40/head. A big improvement compared to a few years ago.

  7. #7
    Frank_the_Wool
    Guest

    Re: wool price

    All wool prices are rising, Australia has hit new levels and S Africa is up 7.5% year on year with a huge demand at their latest sale resulting in 99% clearance.

    The increased publicity of wool especially with the various Wool Weeks around the world organised by the "Campaign for Wool" which is now a worldwide marketing campaign, started originally by the BWMB and Prince Charles.

    Remember the Irish contribute nothing to marketing!

  8. #8
    THE IRISH WOOL MAN
    Guest

    Re: wool price

    18/10/12
    Frank the Wool, good to see you back from retirement and as active as ever!
    Below is copy of our market view, published in FG in June.

    MARKET OUTLOOK:
    As of today 1/6/12:
    From Nov 2011 the market in China have virtually closed up & still is.
    While the pipeline of greasy wool into the processing system IS quiet low, the volume of finished products – expected to be sold into the USA, UK & EUROPE - is stuffed to the gills and we now depend mainly on the Chinese domestic market to use our wool. Their economy is overheating & their government are taking steps to cool it down. Until there is growth again in all three markets wool prices will remain depressed.
    Note: Skins have fallen by over 50% in the last six months and still falling, wool moves in tandem with skins but today the fall is c. 30%. There is more to come !
    The BWMB price incicator has falen from £1.6851 in DEC to £ 1.2368 in MAY.
    The volume of wool sold each sale is 54% since DEC, mainly because the BWMB did not follow world market prices – as New Zealand did & now our wool is an unheard of £0.30/kg scoured dearer – historically it is the reverse.
    Since then, prices have continued to decline, as can be seen on thr BWMB web site where all summer sales struggled to sell up to 40% ! The sale average ranged from £1.03 to £1.17 and last 2 sales sold over 70% - because BWMB took reduced prices to move on stock - maybe cash flow coming into play!

    You quote finer white types increasing by 10%... Frank there were3 lots of specialty wools under 30 micron out of c.250 lots that did this! The bulk of fine wools 32 to 33.5 were firm on last sale. Carpet types were unchanged at £1.23. – How’s is the forecast of £1.43 looking now? Grey Swale sold at .47/.48 – take the handling out of that, will there be 10p left? But as was forecast a payment of £0.62 – I am sure you will stand by this? So what information will you tell YOUR producers now?

    Frank, the Irish man, the Europeans or the Kiwis do not DUMP wool on to the market, we sell daily at world market prices. We do not have the luxury of 12 months credit to speculate with, it is YOUR producers fund this and take the risk.
    Yes we are never happy to see falling prices & we do expect to see revovery – we believe it may be bouncing along the bottom but could take some years rather than months to see last years highs.
    ================================================== ====
    19/10/12
    [QUOTE=Frank_the_Wool;1020334]All wool prices are rising, Australia has hit new levels and S Africa is up 7.5% year on year with a huge demand at their latest sale resulting in 99% clearance.

    THIS IS FOR MERINO WOOLS FROM 19 TO 25 MICRON… HOW ABOUT GIVING A MARKET ASSESSMENT ON CROSSBRED TYPES TO BALLANCE YOUR REPORT!

    The increased publicity of wool especially with the various Wool Weeks around the world organised by the "Campaign for Wool" which is now a worldwide marketing campaign, started originally by the BWMB and Prince Charles….

    WE WOULD BE HAPPY TO CONTRIBUTE, IF ASKED. LIKE YOU WE COULD PUT A LEVY ON PRODUCERS. WE ADMIRE THE EFFORTS OF PRINCE CHARLES IN PROMOTING WOOL.

    Remember the Irish contribute nothing to marketing!....

    WE HAVE MANY PROJECTS – ASSISTING CARPET MANUFACTURERS WITH THE AIM OF SELLING MORE CROSSBRED WOOLS. – PAID FROM OUR OWN RESOURCES.

    THE IRISH WOOL MAN

  9. #9
    lambman
    Guest

    Re: wool price

    Frank..Frank..Where are you Frank..?

  10. #10
    sheepdip
    Guest

    Re: wool price

    Irish Wool Man is a merchant whose job is to buy wool and then sell it on, making a margin along the way. He only buys as much wool as he chooses, and he only pays a price he is comfortable with, otherwise no deal.

    BWMB has the job of handling all (or 95%) of the wool grown in the UK and selling it for the best possible return to producers.

    Two different functions, so its no surprise that they approach the market in different ways. That said, no-one could deny that trading conditions are difficult, and prices are well back from the highs of 12 months ago. After rising so fast and so far, wool prices were always likely to turn down again, but you would have to be very brave to predict exactly when and how low.

    The price predictions given by BWMB were forecasts based on the last season's auction prices as was stated at the time. In the light of today's prices they look optimistic but there is still a long way to go before the end of the season, and in the meantime BWMB will carry on trying to get the best returns possible in the interests of all producers.

  11. #11
    Frank_the_Wool
    Guest

    Re: wool price

    Irish Wool Man

    I should point out that I am now retired but still take a healthy interest in the British and World wool market. I also have a significant financial interest in wool, producing more than 20 tons a year.

    I am pleased to see you would like to contribute directly to the Campaign for Wool and I am sure the more the promotion is funded the better it will achieve the objective of higher wool prices in the world.

    The BWMB price indicator at present stands at £1.33 and with rising demand in the world there is every reason to be confident that the price increase is sustainable.
    I agree that skin prices and wool nearly always move up and down together, however with much greater publicity for wool it is likely that it may move before the skins, that said skin prices here have increased by 30p in the last couple of weeks.

    You mention that historically British wools have always been lower on a scoured basis than NZ, while that used to be the case over the last few years that situation has been reversed on a number of occasions.
    If the market continues to improve the BWMB will be vindicated for holding off the market with new seasons wool until the price improved. A brave decision (helped inadvertently by the wet weather) but if more sellers like yourselves were able to do this then prices would hold up.

    NZ historically has never been the best at marketing either lamb or wool. They have improved considerably at selling lamb but unfortunately not wool. Their producers poured millions of dollars into the Fernmark that achieved nothing, more recently they have tried branding for carpets, "Just Shorn" and "Laneve", these "NZ" brands may contain British Wool.
    Most discerning carpet buyers know that a good carpet in an 80:20 however the 80% wool does not matter where it comes from as long as the carpet colour is right for the purchaser!!

    If you were to buy the British wool you require directly from the Auction you would be able to buy well sorted and graded wool in the volumes you require and at the same time introduce more competition at the auction so increasing prices for the benefit of not only British farmers but Irish ones as well.

    The Auction system is transparent and I am sure many Irish producers would like to have the BWMB system, many in Europe would.

  12. #12
    Sussex Martin
    Guest

    Re: wool price

    THE IRISH WOOL MAN, member since May 2008 total posts 3. Says it all really, a useful member of the forum, we all thank you for your input over the last four and a half years.

  13. #13
    jackstor
    Guest

    Re: wool price

    Neither the BWMB or the irish companies go round farms with a gun, threatening to shoot the farmer if they don't send their wool to them.
    So it is up to the farmer to make the decision where to send his wool. If the farmer decides to take it to the Irish, he can find out how much per/kg he will get paid before taking it, if he is not satisfied with that quoted price, he needn't take it. If he is, he will have it weighed and have his money in the bank within a week or so.
    If the farmer decides to take it to the wool board, he will take it, get a % of his money straight away and get the remainder in 12months time. It may come to more than the irish price, it may come to less, just depends on how the market performs.
    If you were great at forecasting the future markets, then I would guess you would chop and change where you took your wool, but then again, if you were that good at forecasting markets, I would think you would be trading in other things rather than wool.
    At the end of the day it is the FARMER'S choice where he sends in wool.

    In reality, the wool cheque is a small % of your flock output,guessing at 2-4%, so there are far, far more important factors determining the future prosperity of our sheep enterprises.
    In my view, it is the auction mart system, supporting your auctions, selling livestock through a ring.
    I trust everyone who vehemently supports the BWMB, sell all their stock through the auction system.

  14. #14
    NeilO
    Guest

    Re: wool price

    Quote Originally Posted by jackstor View Post
    Neither the BWMB or the irish companies go round farms with a gun, threatening to shoot the farmer if they don't send their wool to them.
    So it is up to the farmer to make the decision where to send his wool. If the farmer decides to take it to the Irish, he can find out how much per/kg he will get paid before taking it, if he is not satisfied with that quoted price, he needn't take it. If he is, he will have it weighed and have his money in the bank within a week or so.
    If the farmer decides to take it to the wool board, he will take it, get a % of his money straight away and get the remainder in 12months time. It may come to more than the irish price, it may come to less, just depends on how the market performs.
    If you were great at forecasting the future markets, then I would guess you would chop and change where you took your wool, but then again, if you were that good at forecasting markets, I would think you would be trading in other things rather than wool.
    At the end of the day it is the FARMER'S choice where he sends in wool.

    In reality, the wool cheque is a small % of your flock output,guessing at 2-4%, so there are far, far more important factors determining the future prosperity of our sheep enterprises.
    In my view, it is the auction mart system, supporting your auctions, selling livestock through a ring.
    I trust everyone who vehemently supports the BWMB, sell all their stock through the auction system.
    Yes. All finished stock goes through the live marts. ( PBH)

    Got my first (as a new business) wool cheque today, a whole £290 downpayment for over 2t of wool from lowland breeds. I hope the small advance payment isn't a reflection of where they think the wool price is going.

  15. #15
    Poorbuthappy
    Guest

    Re: wool price

    Quote Originally Posted by NeilO View Post
    Yes.

    Got my first (as a new business) wool cheque today, a whole £290 downpayment for over 2t of wool from lowland breeds. I hope the small advance payment isn't a reflection of where they think the wool price is going.
    Now Mr O, I think your 'Yes' is slightly stretching the truth.
    Just what proportion of your income is from on farm ram sales. (rhetorical question - not expecting you to divulge business figures!)

    More seriously - the advance payment element of the wool cheque was a joke last year when predictions were more bouyant.

  16. #16
    NeilO
    Guest

    Re: wool price

    Duly corrected.

  17. #17
    Tim W
    Guest

    Re: wool price

    Quote Originally Posted by Poorbuthappy View Post
    Now Mr O, I think your 'Yes' is slightly stretching the truth.
    Just what proportion of your income is from on farm ram sales. (rhetorical question - not expecting you to divulge business figures!)

    More seriously - the advance payment element of the wool cheque was a joke last year when predictions were more bouyant.
    There's one thing for sure----the producer wont make money out of wool at present prices

  18. #18
    Poorbuthappy
    Guest

    Re: wool price

    Quote Originally Posted by Tim W View Post
    There's one thing for sure----the producer wont make money out of wool at present prices
    Never one to miss a chance eh Tim

  19. #19
    Tim W
    Guest

    Re: wool price

    Quote Originally Posted by Poorbuthappy View Post
    Never one to miss a chance eh Tim
    I thought i'd been very restrained

  20. #20
    hilly bill
    Guest

    Re: wool price

    Quote Originally Posted by Tim W View Post
    There's one thing for sure----the producer wont make money out of wool at present prices
    I do:kiss:, could always do with more though

  21. #21
    Poorbuthappy
    Guest

    Re: wool price

    Quote Originally Posted by hilly bill View Post
    I do:kiss:, could always do with more though
    Oh dear, now you'll start him off again - cost of maggot control, extra costs/losses due to sheep getting on their back.....

  22. #22
    hilly bill
    Guest

    Re: wool price

    Quote Originally Posted by Poorbuthappy View Post
    Oh dear, now you'll start him off again - cost of maggot control, extra costs/losses due to sheep getting on their back.....
    yea thought i would give him something to do, as with no cares there will be a awfull lot of thumb twiddeling.

  23. #23
    Tim W
    Guest

    Re: wool price

    Quote Originally Posted by Poorbuthappy View Post
    Oh dear, now you'll start him off again - cost of maggot control, extra costs/losses due to sheep getting on their back.....
    Seems you know the facts already so i don't need to educate you any further

  24. #24
    Frank_the_Wool
    Guest

    Re: wool price

    Last nights Auction in NZ saw prices for 32 - 37 micron wools increase by over 10%.
    This type of wool would be carpet type or coarse knitting wool, this means good news for British wool types.
    Straight 32 micron wools increased by 8%, this is hand knitting wool.

    Australian fine wool indicator increased by 19 cents, a significant amount.

    Demand is increasing and there is only a limited amount of wool available!

    Demand is being created by the various wool weeks around the world coordinated by the Campaign for Wool.

  25. #25
    hilly bill
    Guest

    Re: wool price

    I got my wool money paid straight into the bank, quite happy with what i got.

  26. #26
    llamedos
    Guest

    Re: wool price

    Quote Originally Posted by hilly bill View Post
    I got my wool money paid straight into the bank, quite happy with what i got.
    I swapped mine for a fine looking horse even got a £10 luck

    Best deal I ever got, saves the diesel money to Bradford:lolk:









    llamedos wanders off wondering who will point out she will be paying out for the rest of its life.......
    By the way where's wally?

  27. #27
    y fan wen
    Guest

    Re: wool price

    Quote Originally Posted by llamedos View Post
    I swapped mine for a fine looking horse even got a £10 luck

    Best deal I ever got, saves the diesel money to Bradford:lolk:
    llamedos wanders off wondering who will point out she will be paying out for the rest of its life.......
    By the way where's wally?
    'Confound all presents what eat!'
    Jorrocks, in 'Handley Cross' by Robert Surtees

  28. #28
    hilly bill
    Guest

    Re: wool price

    Quote Originally Posted by llamedos View Post
    I swapped mine for a fine looking horse even got a £10 luck

    Best deal I ever got, saves the diesel money to Bradford:lolk:









    llamedos wanders off wondering who will point out she will be paying out for the rest of its life.......
    By the way where's wally?
    As long as you were happt with the deal hows the hos going ??

  29. #29
    llamedos
    Guest

    Re: wool price

    Looks like I should be well chuffed
    http://www.heraldscotland.com/mobile...602e440990f9fd

    <H1>Wool board drops pricing bombshell

    Published on 9 November 2012
    Rog Wood
    Regional delegates sat in stunned silence at the British Wool Marketing Board (BWMB) annual conference in Edinburgh on Wednesday as officials explained that next year's wool cheque would be one-third less than predicted.
    Chairman Malcolm Corbett explained: "In July New Zealand prices fell by 20%-45% below the level of last year – and even though we have reduced prices, trade is sluggish and the producer price this year will be well below last year."
    He added: "After under-estimating prices in the last two years we've been guilty of being too optimistic with our predictions for 2013."
    The Board had predicted the average price they would pay next year for this year's clip would be roughly the same as this year's wool cheque – about 120p per kg.
    The revised prediction for next year's payout is down one-third at an average of 80p per kg. That could leave those who delivered Blackface wool getting a wool cheque for less than 60p.
    Following a run of successful sales last year, the Board set high reserves that left them with about five million kilogrammes of unsold wool from the 2010 clip. Any hope of selling that stockpile at enhanced prices was dashed when the demand for wool collapsed as the 2012 round of fortnightly auctions began.
    BWMB chief executive Ian Hartley said: "If prices remain as they are until the end of the season, the final average price for producers next year will be about 80p per kg. It's difficult to forecast prices at this stage and we will have a better idea in January after we have sold half of the clip."
    Scottish producers who stuck with rival Irish buyer Texacloth in spite of the optimistic and very attractive price predictions from the BWMB may find that they have ended up better off. Texacloth paid them between 90p and 95p per kg for their Mule, Halfbred and Cheviot wool, while Blackface wool producers got 80p.
    Aiden Walsh, of Texacloth, told The Herald: "Our producers ended up slightly better off sticking with us and already have their money in the bank."
    </H1>

  30. #30
    Nithsdale farmer
    Guest

    Re: wool price

    Aye, i had heard prices will be down again.......

    Flies in the face of what Frank preaches abit

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