British Wool Prices Jump 70% to £2.54 a Kilo as Global Demand Drains Supply
Updated
Updated · bbc.co.uk · Aug 18
British Wool Prices Jump 70% to £2.54 a Kilo as Global Demand Drains Supply
3 articles · Updated · bbc.co.uk · Aug 18
Summary
Clean shorn wool averaged £2.54 per kilogram at the latest sale, up from under £1.50 a year earlier after prices hit a 10-year high earlier in 2026.
British Wool said the surge reflects tighter supply and stronger demand: sheep numbers have fallen in the UK and New Zealand, while Covid-era wool stockpiles were cleared over the past two years.
China, South Korea and Japan are helping drive that demand, with wool used not only in knitwear and bedding but also in products such as flood barriers and slug pellets.
For farmers, the rebound offers relief after years of weak returns that once prompted some to burn fleeces, and now helps cover shearing costs even as wool remains secondary to meat and breeding.
With wool prices hitting a 10-year high, is this a permanent revival or just a temporary blip driven by expensive synthetic alternatives?
Beyond knitwear, could the sudden demand for natural building insulation and flame-resistant fabrics permanently alter the global sheep farming industry?
As wool transforms from burned waste to premium eco-material, could strict new ethical certifications unexpectedly price out struggling smaller farmers?