Hope for the future of wool prices
NFU Cymru members have been given hope that wool prices will improve next year by the Managing Director of the British Wool Marketing Board.
Speaking at a meeting of NFU Cymru's Less Favoured Area (LFA) Board, Ian Hartley, the Managing Director said, "It has been a very difficult year for wool prices. Not only has the amount of wool produced in Wales decreased, but add that to the loss of the export market due to Anthrax and then Foot and Mouth all these factors have made a huge difference to the wool price. We do hope to see the market improve next year but obviously we can't give any guarantees."
Members were told that New Zealand wool prices were the worst they had seen for 50 years and if they are low then so are the UK prices and visa versa. Mr Hartley also explained that the wool price was calculated in US dollars and at the moment with the pound being so favourable against the dollar it doesn't bode well for UK wool prices.
Tom Tudor, NFU Cymru member from Montgomeryshire who is also a representative on the Wool Board said, "We have to remember that we live in a global market and unfortunately other countries have more of an influence when it comes to wool prices than ourselves."
Mr Hartley reassured NFU Cymru members that despite the downturn in the wool price and the decrease in the amount of wool being produced everything was being done to secure the future of the British Wool Marketing Board with structural changes in the process of being implemented.
He also explained that due to climate change consumers were now demanding more products, in particular carpets, that were made from natural fibres such as wool and the Wool Marketing Board were doing some research into this market at the moment.
John Owen, Chairman of NFU Cymru's LFA Board said, "We fully support the need for a strong Wool Marketing Board in this country. Despite this year's knock backs I am pleased to hear a positive message from the Managing Director about the future of the wool price. I cannot stress enough however that every effort must be made to improve current market wool prices as well as the efficiency of the Board."
