British wool prices hit highest level in a decade

British wool prices have hit their highest level in a decade, delivering a major boost for sheep farmers after years of weak returns and difficult trading conditions.

British Wool confirmed average member returns for the 2025 clip year have risen by around 70% year-on-year, climbing from 40p/kg to 68p/kg.

Returns increased across all wool grades, with Cheviot wool reaching 85p/kg and many core Mule, Texel, Romney, Hill and Cheviot Cross types returning between 70p and 75p/kg.

The organisation also said recent auction activity suggests returns for the 2026 clip could rise by a further 25p to 30p/kg, with some core wool types potentially exceeding £1/kg.

The latest figures mark a significant recovery for the wool market after years in which some sheep farmers struggled to cover basic shearing costs.

British Wool said stronger demand and increased buyer competition at auction had helped push prices higher across the sector.

Around 30,000 sheep farmers currently market wool collectively through the organisation.

British Wool said larger wool volumes help strengthen buyer competition while also reducing operating costs per kilogram for members.

The organisation added that growing consumer interest in traceable and sustainable fibres was also supporting demand.

British Wool now works with more than 180 licensees, while sales of fully traceable wool have continued to increase, with some buyers paying premiums above standard auction prices.

Alongside stronger prices, British Wool continues to invest in wool handling and clip quality across the industry.

More than 100 shearing and wool handling courses are planned for 2026 after more than 900 people attended training events last year.

British Wool chairman Jim Robertson said stronger competition between buyers had played a major role in improving returns.

“This is a strong result for our members and a clear sign the market is moving in the right direction,” he said.

“Prices are up across all wool types because there is real competition at auction.”

He said collective selling remained central to strengthening prices across the sector.

“The auction is where prices are made,” he said.

“The more wool that comes through British Wool, the stronger the returns will be for everyone.”

After years of depressed values, the latest figures suggest confidence may finally be returning to the UK wool market.