Amid COVID-19 shutdowns, bottle necked processing plants, and a trade-war with China, wool prices have fallen.
Wool is an important commodity in Wyoming. According to the U.S. Department of Agriculture, Wyoming produced 2.2 million pounds of wool in 2017. That wool sold for an average of $2 per pound.
In June of 2017, the price of a pound of wool less than 26 to 28 microns was a weighted average of $1.98. In the June of 2019 that price was $2.57 per pound. The June 30, 2020 edition of that same USDA report, listed the price at $1.41.
During an appearance on Sheridan Media’s Public Pulse, Northern Ag Network agricultural director Colter Brown told listeners the COVID-19 troubled processing plants have dropped prices.
A lack of domestic demand and the ongoing trade war with China have also played significant factors in the decreased price, according to Brown.