It’s pleasing to share some positive updates in the wool market this month, with record-breaking fine-wool achievements and improved demand across both islands. Here’s a look at the latest developments and broader trends shaping our industry.

In the South Island, our Christchurch wool exchange has produced positive results for those in the fine wool sector. Ultra-fine merino prices continue to improve, highlighted by an exceptional 12.5-micron merino bale from ‘The Bend’ that achieved $155 per kilogram greasy. This record price for our PGW wool auction room, purchased by The Schneider Group, speaks to the quality and reputation of New Zealand fine wool. It was particularly rewarding to see our growers’ hard work recognised at this level. This wool is destined for processing at a renowned Italian mill, reinforcing the demand we see for New Zealand’s premium fine wool in the global market.

Pictured: The ultra-fine 12.5 micron merino wool from 'The Bend'

Ultra-fine wool remains highly sought after, with strong competition from international buyers, especially those from Australia. Additionally, mid-micron wool prices have stabilised, supported by steady interest from China, which has kept this category strong.

In the North Island, our recent Napier auctions have seen a notable upswing in hogget wool prices, with the greasy mark reaching $3. The dynamics of supply and demand continue to benefit our growers, and the market indicator rose 10 cents at the latest sale. This robust bidding in Hawke’s Bay is a promising sign as early ewe shearing progresses, yielding high-quality results for our growers.

Crossbred wool had a more balanced month, with values adjusting after an improved period. The reduced supply in both islands is helping support prices, and we’re watching closely as summer shearing begins in the North Island to see how the market develops over the coming weeks.

Pictured: A group of students from the Southern Institute of Technology (SIT) at our Napier Wool Store.

I’m also pleased to share that recently we welcomed a new group of students from the Southern Institute of Technology (SIT) to our Napier Wool Store. They gained hands-on training in wool technology and classing, ensuring that the next generation of skilled wool professionals—our “dedicated woollies”—are well-prepared to carry our industry forward.

Finally, with the holiday season approaching, our Wool Integrity online store has introduced a new range of FairTrade-certified, handmade Christmas decorations crafted from New Zealand wool. These beautiful items reflect the values of our Wool Integrity program, with every piece traceable from farm to customer, promoting sustainable and ethical practices.

Thank you to all our growers, buyers, and supporters who make the progress we have seen this past month possible. I look forward to keeping you updated on the market as we head into the summer season.

Warm regards,
Rachel Shearer
GM Wool