The Russian invasion of Ukraine has disrupted global energy markets, generating a huge surge in energy prices; China’s economy continues to be affected by Covid with lockdowns still occurring; global shipping capacity continues to challenge market requirements; and staffing challenges are afflicting many of the economies New Zealand trades with. These significant issues, which are not exclusive to our sector, are balanced by more and more people waking up to our unique natural fibre and its positive attributes.  

It is testament to the industry that while prices, largely for crossbred and strong halfbred wools, are not where we want and they need to be, that wool continues to flow through the supply chain.

Fine wool continues to sell well. Compared with Australia, New Zealand merino wool is attracting significant premiums, based on farming practices, the quality of supply and forward contracts driving the market.

Growers presenting the best prepared, best quality wools of all types continue to reap the benefits of premium prices at our weekly sales.

Grant Edwards, General Manager, PGG Wrightson Wool