Wool market update

Rachel Shearer - PGW Wool

The season closed out with strong wool prices up on the same time last year by up to 24%, however the market continues to reflect global uncertainties affecting many of our export industries. While prices remain mixed, recent auctions have brought some encouraging signs, particularly for well-prepared crossbred fleece and early season mid-micron wool, which attracted strong competition from buyers.

Lamb’s wool still makes up a large portion of the offering, though quality challenges continue to weigh on value. Lesser styles and wool with high vegetable matter or colour remain harder to shift, reinforcing the importance of preparation and presentation.

Buyer demand has remained resilient overall. Lower volumes at recent sales, due in part to the cancellation of one scheduled event, alongside New Zealand’s reducing flock, created more urgency from the bench and helped underpin prices in some categories.

We were pleased to welcome Minister for Rural Communities and Associate Minister of Agriculture Hon. Mark Patterson to one of our recent auctions. His visit was a great opportunity to observe wool processing and testing, highlight the energy and transparency of the open-cry system, and the vital role our industry plays in New Zealand’s rural economy. As we move into the winter shear, preparation remains crucial - well-classed, clean clips continue to stand out in a selective market.

On an exciting note, I’m proud to announce a new partnership between PGG Wrightson and Norsewear. This collaboration celebrates Wool Integrity certified wool, grown here in New Zealand and crafted into Norsewear garments in the heart of the country.