April 23, 2025 • 4 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):
Time for our monthly look at the will market.
Speaker 2 (00:02):
Joining me now is Rachel Share, a GM for Will
and director of Vida at PGG Rights in Limited.
Speaker 1 (00:08):
Good afternoon, Rache, Good afternoon, bro.
Speaker 2 (00:10):
Thank you so much for chatting to me for this
will update. I'm going to say it here while you're
on holiday and in the beautiful Central Otago.
Speaker 1 (00:18):
How's your day looking.
Speaker 3 (00:19):
Oh, it's looking magnificent down here. I'm staying at Lowbourn
on a beautiful vineyard and it's a spectacular day down
here in Central being very fortunate.
Speaker 2 (00:28):
Oh my goodness, I am jealous. Mijo Dunedin's pretty good
today as well. Hey, look, how are things looking in
the will market overall?
Speaker 3 (00:37):
Well, I have to say things have turned. The overall
sentiment across both islands across the last month has been
pretty cautious and I know everyone's saying it, but this
global volatility that's happening, more volatility on the currency front
means a lot more volatility in the wall market. So
it's been quite a mixed bag of results. We're still
(00:58):
we're not back to the prices that we were at
last year, but we have this time last year. But
we are seeing some of the demand come off up
in the North Island, as with previous sales of very
good second year will is still in strong demand, but
it's been a mixed bager result the down in the
(01:18):
South Island. We've also seen further deterioration for most types
and styles once again in the South Island. Unfortunately, Lamb's
will has been most affected. But now that the autumn
harvesting season is coming to an end, we're hoping that
the early season and the better quality early shared prelim
sewn rules will reflect a much better result for those
(01:39):
in the South Island. So unfortunately, roh, a bit of
a mixed bag this last month.
Speaker 2 (01:43):
We had a Damn Steele from Blue Dacks Station on
the show yesterday and he was quite positive when he
was referring to will rate. She said, you know, it's
doubled in value. It's gone from nothing to not much.
Speaker 3 (01:56):
Yes, unfortunately, and wouldn't it be wonderful if the truth
value of will would start to come through again?
Speaker 2 (02:03):
Oh?
Speaker 1 (02:04):
Absolutely absolutely. I must say.
Speaker 2 (02:06):
Every time I see on social media or in the
news people doing amazing things with wool, I'm like, yes,
more of this, keep it going please?
Speaker 1 (02:14):
Hey?
Speaker 2 (02:14):
Taking a global look at things. How are things looking
around the worlds Well.
Speaker 3 (02:18):
I have to say, with our two biggest markets that
are India and China being pretty differently treated by the
US and those tariffs, I think it's pretty likely we're
going to see a continuation of this recent trend which
is actually favoring the Indian markets. So I think we
could well see India overtake China as our biggest market
next season. And that uncertainly that's hanging over the demand
(02:41):
from China and that general nervousness that we're seeing around
what the impact is going to be on worldwide trading.
I think exports here in New Zealand are going to
take a pretty cautious approach to what they buy. So unfortunately,
I think we need to expect some ongoing volatility. Is
things shaped out and globally, Yeah.
Speaker 2 (02:58):
And I think everyone's kind of get use to that
at the moment. You know, what is the only certainty
is uncertainty. One of the highlights for me over the
last couple of weeks, Rachel was the announcement from the
government on the wool front and you were actually at
Parliament for that, I am.
Speaker 3 (03:15):
Sure was, and it was a real privilege to be
amongst other wool industry leaders there in the beehive when
the government announced that they are now directing their agencies
to use wood and fiber products in their buildings. That
god has been a long time coming. I remember the
days when in my father's I can't repeat what he
said when wool carpets were no longer being used in
(03:35):
government agency. So it's been a really long time coming.
But look, it does suggest a renewed recognition for the
worst and also the value of strong wool when you
contemplate the value of wool products over their life cycles.
So it is just to start. We still need that
demand globally to really change the dial for those hard
working and passionate sheep farming communities that we have. But
(03:58):
it's a land mark mon to New Zealand Will and
one that I and the team are really proud to
have been been supporting.
Speaker 2 (04:05):
Absolutely and I know one of my friends who had
that petition around WILL use in Parliament buildings is absolutely
delighted as well.
Speaker 1 (04:14):
Rachel. Share a GM for Will.
Speaker 2 (04:15):
At PGG Rights and you go and enjoy that stunning
Central Otago.
Speaker 1 (04:20):
David, thanks so much for the update.
Speaker 3 (04:22):
Thanks Roy, have a good one,
Time for our monthly look at the will market.
Speaker 2 (00:02):
Joining me now is Rachel Share, a GM for Will
and director of Vida at PGG Rights in Limited.
Speaker 1 (00:08):
Good afternoon, Rache, Good afternoon, bro.
Speaker 2 (00:10):
Thank you so much for chatting to me for this
will update. I'm going to say it here while you're
on holiday and in the beautiful Central Otago.
Speaker 1 (00:18):
How's your day looking.
Speaker 3 (00:19):
Oh, it's looking magnificent down here. I'm staying at Lowbourn
on a beautiful vineyard and it's a spectacular day down
here in Central being very fortunate.
Speaker 2 (00:28):
Oh my goodness, I am jealous. Mijo Dunedin's pretty good
today as well. Hey, look, how are things looking in
the will market overall?
Speaker 3 (00:37):
Well, I have to say things have turned. The overall
sentiment across both islands across the last month has been
pretty cautious and I know everyone's saying it, but this
global volatility that's happening, more volatility on the currency front
means a lot more volatility in the wall market. So
it's been quite a mixed bag of results. We're still
(00:58):
we're not back to the prices that we were at
last year, but we have this time last year. But
we are seeing some of the demand come off up
in the North Island, as with previous sales of very
good second year will is still in strong demand, but
it's been a mixed bager result the down in the
(01:18):
South Island. We've also seen further deterioration for most types
and styles once again in the South Island. Unfortunately, Lamb's
will has been most affected. But now that the autumn
harvesting season is coming to an end, we're hoping that
the early season and the better quality early shared prelim
sewn rules will reflect a much better result for those
(01:39):
in the South Island. So unfortunately, roh, a bit of
a mixed bag this last month.
Speaker 2 (01:43):
We had a Damn Steele from Blue Dacks Station on
the show yesterday and he was quite positive when he
was referring to will rate. She said, you know, it's
doubled in value. It's gone from nothing to not much.
Speaker 3 (01:56):
Yes, unfortunately, and wouldn't it be wonderful if the truth
value of will would start to come through again?
Speaker 2 (02:03):
Oh?
Speaker 1 (02:04):
Absolutely absolutely. I must say.
Speaker 2 (02:06):
Every time I see on social media or in the
news people doing amazing things with wool, I'm like, yes,
more of this, keep it going please?
Speaker 1 (02:14):
Hey?
Speaker 2 (02:14):
Taking a global look at things. How are things looking
around the worlds Well.
Speaker 3 (02:18):
I have to say, with our two biggest markets that
are India and China being pretty differently treated by the
US and those tariffs, I think it's pretty likely we're
going to see a continuation of this recent trend which
is actually favoring the Indian markets. So I think we
could well see India overtake China as our biggest market
next season. And that uncertainly that's hanging over the demand
(02:41):
from China and that general nervousness that we're seeing around
what the impact is going to be on worldwide trading.
I think exports here in New Zealand are going to
take a pretty cautious approach to what they buy. So unfortunately,
I think we need to expect some ongoing volatility. Is
things shaped out and globally, Yeah.
Speaker 2 (02:58):
And I think everyone's kind of get use to that
at the moment. You know, what is the only certainty
is uncertainty. One of the highlights for me over the
last couple of weeks, Rachel was the announcement from the
government on the wool front and you were actually at
Parliament for that, I am.
Speaker 3 (03:15):
Sure was, and it was a real privilege to be
amongst other wool industry leaders there in the beehive when
the government announced that they are now directing their agencies
to use wood and fiber products in their buildings. That
god has been a long time coming. I remember the
days when in my father's I can't repeat what he
said when wool carpets were no longer being used in
(03:35):
government agency. So it's been a really long time coming.
But look, it does suggest a renewed recognition for the
worst and also the value of strong wool when you
contemplate the value of wool products over their life cycles.
So it is just to start. We still need that
demand globally to really change the dial for those hard
working and passionate sheep farming communities that we have. But
(03:58):
it's a land mark mon to New Zealand Will and
one that I and the team are really proud to
have been been supporting.
Speaker 2 (04:05):
Absolutely and I know one of my friends who had
that petition around WILL use in Parliament buildings is absolutely
delighted as well.
Speaker 1 (04:14):
Rachel. Share a GM for Will.
Speaker 2 (04:15):
At PGG Rights and you go and enjoy that stunning
Central Otago.
Speaker 1 (04:20):
David, thanks so much for the update.
Speaker 3 (04:22):
Thanks Roy, have a good one,
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