CCWG Wool Market Update August 2022

 Unfortunately the wool market continues to struggle in 2022 due to several factors. The industry is still dealing with the after effects of Covid-19 and global trade disruptions. For wool it has meant a significant drop in demand and lower prices with a new crop always on the way.

China in particular is still trying to maintain a zero Covid policy which is having a dramatic impact on their manufacturing and retail business. It is far from business as usual in China as the government restricts the movement of people, services and business operations in an attempt to eliminate Covid. It makes everyday life quite difficult for the Chinese people and will have a negative affect on their incomes. Clothing purchases will likely be a low priority. As an example, today there were two positive Covid cases recorded in the city of Tianjin which has a population of nine million people. Tomorrow it is mandated that all nine million residents will be Covid tested without exception. Nation wide Covid testing every seventy two hours is still being implemented. The Chinese economy has suffered greatly as a result with consumer confidence now at an all time low.  

  Recognizing that farmers in western Canada and northwestern Ontario are facing devastating drought conditions, the National Sheep Network (NSN) welcomed the news today from Agriculture and Agri-Food Canada that they are investing $100 million to support farmers. This funding will match provincial AgriRecovery submissions and so we encourage you to be working with your provincial organizations to ensure access to support. 

We continue to advocate to be sure the needs and concerns of our members are heard. We are also working to ensure sheep farmers are included and covered by assistance programs. 

And, if you – or someone you know – need support to cope with this crisis, please visit Do More Ag for a list of resources near you. 

 Sheep Day is a producer led annual event, targeted to mostly Sheep meat producers, (with limited attention given to milk and wool production at this time).  The purpose of Sheep Day is to provide an opportunity for Sheep producers to meet and be educated on the latest technology; discuss pertinent marketing issues, learn about health/nutrition topics, and much more! Plus, interact and exchange ideas with fellow Sheep farmers.

There are two key objectives that the organizing committee strives to achieve daily.  The information shared will be linked “back to the animal”.  Organizers also hope that producers can implement at least two ideas when they return to their operations.