The wool market has shown some stability this year, with certain types of wool reaching near three-year highs, but there's still plenty of room for improvement.

Understanding the challenges the industry faced due to the limited wool scouring capacity after Cyclone Gabrielle's damage 15 months ago is crucial. However, the recent reopening and full refurbishment of the Woolworks scour in Hawkes Bay is promising. Now operating at full capacity, it has boosted buyers' confidence, making it easier to move wool through the value chain efficiently. Woolworks plays a vital role, scouring over 100 million kilograms of wool annually, supporting the New Zealand wool industry.

The North Island has mostly completed its main shearing season, with Northland and parts of the East coast beginning their second shear. The quality of wool produced in recent seasons is commendable, with bright white shears becoming more prevalent. While some parts of the North Island are experiencing dry conditions, stock quality remains good for both sheep and cattle.

Most summer-shorn wools and lambswool has now been sold, so we are now transitioning into better quality autumn/winter shears. Growers can enhance their returns by ensuring well-prepared wool in the shed, which attracts premiums compared to poorly prepared clips.

In the coming months, several international manufacturers and brands will visit, presenting an opportunity to connect them with our valued grower clients.

Stephen Guerin, CEO PGG Wrightson, recently announced the appointment of an Acting General Manager of Wool as Rachel Shearer, PGG Wrightson's current General Manager of People & Safety.

Rachel will be stepping in as a trusted Executive leader at PGG Wrightson. She is a big picture thinker, is passionate about continually improving businesses, and there is considerable faith in her capabilities in both operational and people leadership. Rachel will work closely with the wider Wool and PGG Wrightson teams, as well as external industry specialists, as we explore the opportunities for the PGG Wrightson Wool business to continue to be relevant for the current environment, whilst also responding to future needs and opportunities that lie ahead for the industry.