Wool Market Comment - July 2018
The wool season has concluded on a positive note. Recent sales results have been underpinned by a softening US dollar and Euro and renewed interest in wool from several of our trading partners. All wool types have enjoyed a lift in prices as China and India have returned to the market buying increased volumes regularly.
You may have read the article written in the May 2018 edition of rural publication Country-Wide (which is celebrating its 20th anniversary this year) entitled “A fibre for the future”. I was asked several searching questions by deputy editor Sandra Taylor about whether wool will recover from its mixed fortunes over many decades. Environmental concerns could be the turning point for wool in today’s world. Yet I was also keen to impart the message that the reason wool remains an option is thanks to the many people across the supply chain who have a real passion for the fibre and never gave up. Their dedication to the product runs deep because they do and have always understood that wool is totally natural.
Wool is a natural insulator; naturally fire-retardant; naturally breathable; sustainable and biodegradable to boot. This message needs to be disseminated more widely to ensure global consumers are fully informed about the benefits of wool and social media platforms are a great launchpad.
The wool integrity website we rolled out earlier in the year (www.woolintegrity.com) is helping our farmers and trading partners and, even more importantly, the wider consumer community to connect and understand the journey of genuine wool integrity. We are pleased with the outcome of this project and the timing couldn’t be more in step.
Behind the scenes, we recognise that the demand for wool could suddenly or steadily mount on the back of growing global awareness about the harm being caused by synthetic fibres in our waterways and oceans. Wool is assuredly one of the antidotes to this problem and, now more than ever, the time is right to pomote the numerous benefits of natural New Zealand wool. Our farming practices and wool processes need to meet environmental and consumer approval – backed by credible market and scientific research. Industry-wide, work is underway in this field and we feel confident that wool will live up to the most rigorous scrutiny.
In April we were delighted to launch a second ‘Wool in Schools’ wool shed to tour the South Island and advance this brilliant educational project run by the worldwide Campaign for Wool (with HRH Prince Charles as patron) and sponsored by PGG Wrightson Wool. Educating young minds about the collective benefits of wool and its excellent environmental footprint helps to future-proof wool and promote it as the fibre of choice for future generations.
PGG Wrightson Wool is built on experience and a solid understanding of all aspects of the wool spectrum. Over the season, various members of our wool team have attended international trade fairs, visited clients in far flung places and participated in global meetings about wool. It keeps us in the loop. We communicate all that we learn with our clients and, right now, we envisage a positive future for New Zealand wool in textiles, clothing and several new innovative applications.
We urge you to talk to our experienced
PGG Wrightson wool team for advice about wool clip preparation, your options to contract all or part of your wool clip, and how to sell to best advantage in the current market.
Grant Edwards, Wool General Manager.