Rachel Shearer, General Manager for Wool at PGG Wrightson, recently spoke with Rowena Duncum from The Country, offering valuable insights into the latest developments in the wool market and upcoming industry events.

Rachel shared her experience attending the first weighted fine wool auction of the season in Christchurch. The event drew significant attention, even attracting one of Australia’s main buyers to cross the ditch and compete on the bench. This added competition was evident in the auction room, leading to nearly a full clearance of the wool on offer, much to the sellers' advantage.

Rachel noted that it was particularly gratifying to see some key merino growers in attendance, watching their wool go under the hammer. However, in contrast, the limited offering of crossbred wool sold largely in the buyers' favour. This trend has been consistent across both islands, with lower quality wools fetching surprisingly higher prices than anticipated, driven by strong demand from India. However, with the stronger New Zealand dollar, demand from India has begun to wane as buyers there wait for their wool shipments to arrive. As one of PGG Wrightson's managers aptly put it, "They're pretty much shut up shop for the time being."

The Chinese market has also been active in chasing the limited availability of lower-quality wool to fulfil orders. Despite the price being pushed up by buyers, the limited offering of crossbred wool over the coming months suggests that this trend may not lead to significantly better pricing throughout the season. Rachel concluded that whether the market will see a sustained improvement remains to be seen.

In addition to the market update, Rachel highlighted PGG Wrightson’s ongoing support of the National Shearing Circuit, in partnership with Vetmed. The New Zealand Merino Shearing Championships, a key event in the circuit, will kick off in Alexandra on October 4th and 5th. Rachel expressed her excitement for the event, noting that it is always a pleasure to celebrate the excellence of New Zealand’s shearing and woolhandling talents. She encouraged everyone to get involved and support this quintessential event.