January 16, 2025 • 6 mins
The Country's Rowena Duncum talks to PGG Wrightson's GM for Wool, Rachel Shearer, about the state of the market.
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Speaker 1 (00:00):
Joining me for our monthly look at the will market
GM for will at PGG Rights.
Speaker 2 (00:04):
And Rachel Sharer. Rachel, good afternoon, Happy.
Speaker 3 (00:06):
New Year, Good afternoon, and happy New Year to you, wrote.
Speaker 2 (00:10):
Did you manage much of a break over the summer?
Speaker 3 (00:13):
Oh? Sure was good having a break, and I have
to say it, it's also been great to see farmers
with happy smiles on their faces with the rain that's
been coming, and also great to hear that a lot
of farmers have been able to get off farm and
have a holiday the conditions. The conditions are far better
than what we anticipated pre Christmas, aren't they.
Speaker 2 (00:31):
Yeah?
Speaker 1 (00:31):
And I know some rain coming for that northern region
which will be very well received as well. A lot
of sharing sheds were so busy over the summer as well.
Main share happening for a lot of places too. We
had a dull sail yesterday, so you're straight back into
it too.
Speaker 2 (00:48):
How did that go?
Speaker 3 (00:49):
Look? It went really well again yesterday, wrote We actually
had a sail last week as well up in the
North Island and that was a really vigorous start to
the year. But yes, today was a great start to
the year across both islands as far as price wise,
there's really some intense competition amongst buyers at the moment
and that's resulting in price gains across most types and descriptions.
(01:11):
So where she had an eight year high for cross
breed fleeces and some have been pushing past that Ford
dollar mark. So it's been a good start to the year.
The strong wool indicator in the North Island last week
actually jumped a whole twenty one cents and it rose
another cent yesterday and fifteen cents in the South Island.
So it's been a good start to the year, that's
(01:34):
for sure.
Speaker 1 (01:34):
Yeah, And as you say, farmers will just be pretty
delighted with that result. It was like for the Global
Dairy Trade auction for dairy farmers for a while and
it just kept going down and then it's been going up,
so you know, when it's heading in the right direction,
everyone is happy. Look, what do you see ahead for
twenty twenty five. What are some of your predictions or
(01:56):
what would you like to see.
Speaker 3 (01:58):
Look, we it is a well supply and demand story.
As we've been saying for a while. The transport companies,
particularly up in the North Island are pretty busy at
the moment with all the weather that's been coming through,
so there's a lot of demand on the transport companies,
carding baylage and things. So there's a lot of wool
still sitting in the wallsheds, so that wall is yet
to come forward and we're looking forward to seeing that
(02:20):
come to the market. But we're also seeing the effects
of land use change, so that the volume story and
the volumes being back is showing a lot of heat
from buyers who are looking to fill orders. But here
there's a double edged sword to that. We're also I
don't you know, we're at the currency is at the
(02:41):
lowscence two thousand and nine to the US dollar, so
that's been really helping the buying pressure in the room.
And then there's still some really widespread demand. You know,
we've seen export stats showing that India is taking a
really significant part of the clip, but that's pretty price sensitive.
But we're looking across to the British market, the Australian market.
(03:04):
We're on a similar trajectory to both of those markets.
As far as an increase in price, we'd like to
see it hold, but as I mentioned before, there are
a number of factors along you know, the dollar, the
availability of volume coming forward, and we're also seeing India
is starting to potentially pull back a little bit at
some of these higher prices. So exporters are really actively
(03:28):
competing to fill what they've currently got, which is pushing
prices up, but they're not necessarily going to be able
to conclude a lot of new business at these current levels.
So crystal ball gazing and my advice is any opportunity
there's some good, really good forward contracts out there, it's
(03:49):
probably a really prudent move for farmers to lock in
some of these most recent games and talk to their
reps and look to a solidifier forward contract.
Speaker 2 (03:59):
Yeah, communication is key, Rachel.
Speaker 1 (04:01):
Not only are you the GM for wall at PGG Rights,
and you're also the GM for Bidder, and Bidder are
actually going to be live streaming a world record sharing
attempt on Monday. Yep, Jamie Skiffington is attempting the nine
hour LAMB world record at why We're Past Station. We
were talking about that just yesterday with Bjorn Anderson out
(04:22):
of the Livestock Department of PGG Rights and they had
their first on farm sale not long ago. Well, they
are also preparing sheep for Jamie's world record attempt just
south of Danny Rick there. It's going to be live
streamed at Bitter bidr dot co dot nz forward slash
sharing Dash Record Dash attempt just gurgle Bitter and you'll
(04:44):
find it pretty awesome to be able to offer that service.
Speaker 3 (04:47):
Rachel, Oh, it is awesome, and Bitter are delighted to
be involved. We're involved back in the last record attempt
and look, it was actually the highest traffic day that
we've ever had across the sites. It was off the charts,
So we are delighted that so many people look to
(05:07):
get him behind Jamie and these world records attempts. It's
a really wonderful way to showcase the really high quality
and incredible talent and exercise. Did you know that he
gets up at three point thirty in the morning to
exercise and you know it was really strict diet before
he goes off to share sheep all day like hell,
(05:28):
an absolute athlete. So but bda are absolutely delighted to
be hosting that and the link will be up on
our social media channels and we're really looking forward to
getting them behind Jamie, that's for sure.
Speaker 1 (05:39):
Yeah, we'll be updating it on the country on Monday
as well. Ratechel'll share our GM for will and but
at who did do right? So I'm great to catch
out for the first time in twenty twenty five. Go
well and keep that strong will and crossbread will indicators
heading upwards.
Speaker 3 (05:54):
AH will do as much as we possibly can and
thanks to Jero and looking forward to the people to
the year he's
Joining me for our monthly look at the will market
GM for will at PGG Rights.
Speaker 2 (00:04):
And Rachel Sharer. Rachel, good afternoon, Happy.
Speaker 3 (00:06):
New Year, Good afternoon, and happy New Year to you, wrote.
Speaker 2 (00:10):
Did you manage much of a break over the summer?
Speaker 3 (00:13):
Oh? Sure was good having a break, and I have
to say it, it's also been great to see farmers
with happy smiles on their faces with the rain that's
been coming, and also great to hear that a lot
of farmers have been able to get off farm and
have a holiday the conditions. The conditions are far better
than what we anticipated pre Christmas, aren't they.
Speaker 2 (00:31):
Yeah?
Speaker 1 (00:31):
And I know some rain coming for that northern region
which will be very well received as well. A lot
of sharing sheds were so busy over the summer as well.
Main share happening for a lot of places too. We
had a dull sail yesterday, so you're straight back into
it too.
Speaker 2 (00:48):
How did that go?
Speaker 3 (00:49):
Look? It went really well again yesterday, wrote We actually
had a sail last week as well up in the
North Island and that was a really vigorous start to
the year. But yes, today was a great start to
the year across both islands as far as price wise,
there's really some intense competition amongst buyers at the moment
and that's resulting in price gains across most types and descriptions.
(01:11):
So where she had an eight year high for cross
breed fleeces and some have been pushing past that Ford
dollar mark. So it's been a good start to the year.
The strong wool indicator in the North Island last week
actually jumped a whole twenty one cents and it rose
another cent yesterday and fifteen cents in the South Island.
So it's been a good start to the year, that's
(01:34):
for sure.
Speaker 1 (01:34):
Yeah, And as you say, farmers will just be pretty
delighted with that result. It was like for the Global
Dairy Trade auction for dairy farmers for a while and
it just kept going down and then it's been going up,
so you know, when it's heading in the right direction,
everyone is happy. Look, what do you see ahead for
twenty twenty five. What are some of your predictions or
(01:56):
what would you like to see.
Speaker 3 (01:58):
Look, we it is a well supply and demand story.
As we've been saying for a while. The transport companies,
particularly up in the North Island are pretty busy at
the moment with all the weather that's been coming through,
so there's a lot of demand on the transport companies,
carding baylage and things. So there's a lot of wool
still sitting in the wallsheds, so that wall is yet
to come forward and we're looking forward to seeing that
(02:20):
come to the market. But we're also seeing the effects
of land use change, so that the volume story and
the volumes being back is showing a lot of heat
from buyers who are looking to fill orders. But here
there's a double edged sword to that. We're also I
don't you know, we're at the currency is at the
(02:41):
lowscence two thousand and nine to the US dollar, so
that's been really helping the buying pressure in the room.
And then there's still some really widespread demand. You know,
we've seen export stats showing that India is taking a
really significant part of the clip, but that's pretty price sensitive.
But we're looking across to the British market, the Australian market.
(03:04):
We're on a similar trajectory to both of those markets.
As far as an increase in price, we'd like to
see it hold, but as I mentioned before, there are
a number of factors along you know, the dollar, the
availability of volume coming forward, and we're also seeing India
is starting to potentially pull back a little bit at
some of these higher prices. So exporters are really actively
(03:28):
competing to fill what they've currently got, which is pushing
prices up, but they're not necessarily going to be able
to conclude a lot of new business at these current levels.
So crystal ball gazing and my advice is any opportunity
there's some good, really good forward contracts out there, it's
(03:49):
probably a really prudent move for farmers to lock in
some of these most recent games and talk to their
reps and look to a solidifier forward contract.
Speaker 2 (03:59):
Yeah, communication is key, Rachel.
Speaker 1 (04:01):
Not only are you the GM for wall at PGG Rights,
and you're also the GM for Bidder, and Bidder are
actually going to be live streaming a world record sharing
attempt on Monday. Yep, Jamie Skiffington is attempting the nine
hour LAMB world record at why We're Past Station. We
were talking about that just yesterday with Bjorn Anderson out
(04:22):
of the Livestock Department of PGG Rights and they had
their first on farm sale not long ago. Well, they
are also preparing sheep for Jamie's world record attempt just
south of Danny Rick there. It's going to be live
streamed at Bitter bidr dot co dot nz forward slash
sharing Dash Record Dash attempt just gurgle Bitter and you'll
(04:44):
find it pretty awesome to be able to offer that service.
Speaker 3 (04:47):
Rachel, Oh, it is awesome, and Bitter are delighted to
be involved. We're involved back in the last record attempt
and look, it was actually the highest traffic day that
we've ever had across the sites. It was off the charts,
So we are delighted that so many people look to
(05:07):
get him behind Jamie and these world records attempts. It's
a really wonderful way to showcase the really high quality
and incredible talent and exercise. Did you know that he
gets up at three point thirty in the morning to
exercise and you know it was really strict diet before
he goes off to share sheep all day like hell,
(05:28):
an absolute athlete. So but bda are absolutely delighted to
be hosting that and the link will be up on
our social media channels and we're really looking forward to
getting them behind Jamie, that's for sure.
Speaker 1 (05:39):
Yeah, we'll be updating it on the country on Monday
as well. Ratechel'll share our GM for will and but
at who did do right? So I'm great to catch
out for the first time in twenty twenty five. Go
well and keep that strong will and crossbread will indicators
heading upwards.
Speaker 3 (05:54):
AH will do as much as we possibly can and
thanks to Jero and looking forward to the people to
the year he's
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