The wool market has experienced a mix of results across both islands over the past few weeks, with some sales showing strong competition and others settling in buyers' favour. Here’s a look at the latest trends and highlights from the wool auctions.

Last week, the Napier wool sale wrapped up with a softer tone, much like the previous sale. Most wool types sold in buyers’ favour, with some exceptions. Speciality wool types sparked intense bidding, particularly in the PGW Wool catalogue, with strong demand driving prices higher.

In the South Island, the recent Christchurch sale marked the first of the weighted fine wool offerings for the season. One of the main Australian wool exporters entered the fray, adding extra competition and a noticeable buying buzz to the room. The result was an upbeat atmosphere and almost a full clearance of lots in the sellers’ favour. Some merino growers, seated in the room, watched as their wool went under the hammer, generally seeing positive results.

However, crossbred wool offerings continued to favour the buyers, similar to trends seen in the North Island throughout August. A limited supply of this type of wool kept the market steady, but it remains to be seen whether pricing will improve as the season progresses.

One surprising trend across both islands has been the stronger-than-expected prices for lower-quality wools, both fleece and oddment types. India has been particularly active in this market, although the rising New Zealand dollar seems to be creating a bit of a standoff with demand from India starting to taper off. The Chinese market has also been chasing these lower-grade wools, which has helped elevate prices to date. With fewer crossbreds expected on the market over the next few months, the dynamics may remain steady, but whether this translates into better pricing for the entire season is still unclear.

We want to thank everyone who participated in our recent survey and provided valuable feedback on the Wool Street Journal. Your insights are incredibly important to us and help shape the content we deliver. We’re excited to announce the two winners of the $250 Wool Integrity Store vouchers from the survey draw, Anna Nelson and Trevor Drake — congratulations! 

Over the coming months, you’ll start to see some of your suggestions being implemented as we strive to make the Wool Street Journal even more engaging and relevant for you. We’ve also added a submissions box in this edition, so please continue to share your thoughts, ideas, and feedback with us. Your input is essential in helping us create content that matters to you.

I hope you find some time to check out our latest edition of our Wool Street Journal, which features an inspiring story about the partnership between PGW Wool and Devold, highlighting the positive impact it’s had on one of our North Canterbury Merino growers. You’ll also find a profile on Doug McKay, our newly appointed South Island Procurement Manager, and my backstory as I step into the role of General Manager for PGW Wool on a permanent basis. Plus, don’t miss the current specials from our Wool Integrity store—some truly premium products fit for a king!

Stay tuned for further updates as we continue to monitor market trends and share insights from the wool sector.

Rachel Shearer,
General Manager
PGG Wrightson Wool