After a surge in September that lifted prices to levels not seen in many years, the strong wool market has remained firm through October, continuing to provide a more positive outlook for growers.

The average of all strong wool types has increased 25% compared to the same time last year. A great result for hardworking growers and a sign of renewed confidence and resilience in the sector, although I acknowledge there is still significant room for improvement.

Across both Islands, demand has stayed steady, with exporters continuing to compete for limited supplies. The underlying strength reflects a mix of local and global influences, from low global wool stocks to strong buying activity from China, which continue to support the market’s upward shift.

After such a long period of subdued returns, it’s encouraging to see this level of consistency in the market. Growers are benefiting from genuine competition for their wool, and buyers are continuing to show strong confidence, particularly from China. It’s the kind of stability we’ve been hoping to see, and we’re cautiously optimistic the momentum will continue. 

Fine wool market
After a rapid rise in September that lifted fine wool prices to levels not seen in generations, the Australasian market has eased back slightly. Even so, prices remain 25–30% higher than at the same time last year, reflecting continued strength and demand across the fine wool sector.

Global demand remains firm
Strong demand out of China continues to drive the market, with mills working to restock after a prolonged period of limited global supply. Australian sheep numbers remain historically low, and the flow-on effect has seen exporters sourcing more New Zealand wool to fill orders.

Recent sales in both Islands have shown a broad lift across most types, particularly shears and fleece lines between 100mm and 150mm.

The fundamentals are clear, supply is tight, and the appetite for wool as a natural, renewable fibre is growing globally. We’re still seeing a lot of that activity from China, and it’s helping underpin values.

National sale trial marks a new chapter
October also marked a milestone for the industry with the first combined national wool sale trial held at the Christchurch Selling Centre. The initiative brought together wool brokers from across New Zealand to sell under one roof, creating a unified, transparent marketplace.

The collaboration between brokers and exporters to make this trial happen was outstanding. It’s an important step forward in exploring a more sustainable and efficient auction model for the future.

The auction room was packed with buyers, including several who travelled from Australia, with the strong wool sector once again proving its resilience. The trial was well received, with solid trading and positive sentiment suggesting strong support for future national sales.

Looking ahead
While the market remains buoyant, continued discipline and collaboration across the sector will be key to maintaining progress.
We’re in a better place than we were twelve months ago, but this is not the time for us to take our foot off the pedal. The goal is to build on the positivity we’re seeing, to keep driving efficiency, to keep exploring opportunities for collaboration and promoting the value of New Zealand wool to the world.

As the season progresses, the combination of low supply, strong demand, and renewed industry unity is giving growers reason for optimism, and providing momentum.

Rachel Shearer
General Manager
PGW Wool