Jamie Mackay and PGG Wrightson's GM for wool Grant Edwards take a look at this month's wool market, which can be described as lagging.
The growth from the cross-breed wool market in September has not kept is momentum, and uncertainty around pricing as exports to China are on the rise despite trade sanctions.
Mackay touches on the presence of live auctions as they were present at the Hawkes Bay A&P show and yield an overall 2.5 million dollar wool turn over.
The innovation of live auctions will be present again at the New Zealand Agricultural Show, and the sale of fine wool has the potential to produce up to 2.5 million an hour.
In comparison, market auction results are mirroring the disappointing turnaround from last season. Mackay asks if there is still the expectation of the anticipated December-January low when the bulk of the wool will hit the market.
Edwards replies that the flow of wool into the market appears to be evening out with pre-lambing seasons, longer shearing periods, and the consistent demands of the market.
On a more positive note, Edwards elaborates on the potential for new retail relationships as there are discussions with Abraham Moon – The Luxury Fabric Maker as a potential Wool buyer.
In addition, initiatives from New Zealand's youth have seen wool based projects and exhibitions in the public sphere.