The Reds were 1-0 down at half time but Conal Platt equalised for the Reds after the break. Liverpool pushed for a winner but suffered a set-back when Francis Smith went off injured after the Reds had made all three of their allocated subsitutions. Wolves made the extra man count as they scored a late winner to take all three points.
"It was a very disappointing performance to be honest and too many players had off-days," said Youth coach John Owens.
"We had the wind with us in the first half but we were guilty of too many long passes and we found ourselves 1-0 down at half-time.
"Five minutes into the second half I made three substitutions, but unfortunately we then lost Francis Smith after a bad tackle so we played the final 35 minutes with 10 men. Francis has an ankle ligament problem but it isn't as serious as we first feared and he should be back in action in two weeks.
"One positive for us was having Paul Lancaster back in goal after injury and he played well."