This month’s wool market update with Rachel Shearer, GM for Wool at PGG Wrightson, revealed some exciting news in the fine wool space. Speaking with Rowena Duncum from The Country, Rachel shared insights into how the South Island market is showing positive trends, along with developments in the North Island and the upcoming student training program in Napier.

As the South Island hits the peak of the fine wool season, Rachel reported exceptional performance at the Christchurch Wool Auction, particularly in comparison to the Australian market. A highlight came when a lot of ultra-fine 13-micron wool achieved a record-breaking price of $71 per kilogram greasy—an event auctioneer Doug McKay hasn’t seen in his nearly 20 years at the premise on Blenheim Road.

International buyers were key to this success, with strong bidding and increased interest in high-quality fine wool lots. “Our growers should be extremely proud,” Rachel remarked, noting that this result is a win for the Central Otago growers and the broader fine wool industry.

In the North Island, it’s a classic case of supply and demand driving the market. While there were fewer bales on offer this month than expected, demand for longer wool and second-shear wool remained strong, with competitive bidding from buyers. The wool auctions will take a brief break until October 10th, when sales will resume with both a North and a South Island sale, bringing a good amount of wool to the table.

Looking ahead, Rachel expressed enthusiasm about the next intake of students from Southern Institute of Technology (SIT), who will soon be coming to the Napier Wool Store. These students will be learning more about wool technology and classing, and Rachel stressed the importance of supporting the next generation of wool industry professionals, or “dedicated woollies,” as she fondly called them.