In a recent interview with Rowena Duncum from The Country, Rachel Shearer, General Manager for Wool at PGG Wrightson, provided an optimistic update on the current wool market.

Strong Start in the North Island: Rachel reported that the wool season has begun robustly, with three recent sales in the North Island showing strong demand. Despite limited wool offerings, the high quality of wool presented led to an approximate 19 cent rise in the North Island Strong Wool Indicator compared to the previous auction. This positive trend indicates a shift towards a healthier market, although Rachel notes there is still a lot of room for improvement.

Solid Performance in the South Island: The South Island also had a good start to the season, with the first sale showing a steady market for most crossbred styles. Supply matched demand, and a small offering of new season merino wool received strong competition, exceeding the levels fetched by the Australian market that same week. This is a promising sign for the local industry.

Efficient Wool Processing and Storage: Rachel highlighted that storage capacity in wool stores is in excellent shape, with good volumes being processed and sold. This efficiency in the supply chain is another positive indicator of market health.

Support from Iconic NZ Brands: Rachel expressed pride in seeing popular New Zealand clothing brands like Norsewear, Kaiwaka, and Stoney Creek producing garments made from local wool through the Wool Integrity Programme. This initiative underscores the strong connection from growers to these iconic brands, reinforcing the value of local wool in the market.

Rachel’s insights reveal a promising start to the wool season, with strong demand and quality offerings setting a positive tone. The collaboration with iconic New Zealand brands through the Wool Integrity Programme highlights the significance of local wool and strengthens the bond between growers and end products. Stay tuned for more updates as the season progresses.