Wool prices have struggled in the last couple of years. Photo: supplied
Slowing international demand for wool means farmers are getting lower prices for their clip.
Covid-19 lockdowns in China have resulted in agents there buying less, and high fuel prices in Europe means some processors are not operating their factories.
That's having flow-on effects for wool growers here - each auction since mid-spring has brought a new set of price decreases, and prices for coarse wools are heading back towards the lows seen through 2021.
Hawke's Bay wool broker and Wright Wool owner Philippa Wright said it's dreadful calling farmers letting them know what their wool has sold for.
"Well, it's been really sad. It's very concerning and it's quite frightening - it just seems to keep going down.
"But there are so many things going on in the world that none of us can do anything about, so I think we're all sitting on our hands, trying to work out how long we can wait it out."
She expects prices will remain soft next year, but there are things farmers try to get better prices.
"Just keep preparing the wool as well as you can, even though you're limiting how many people that you've got working in the shed because believe me, for people like us, it is so much more difficult trying to sell wool that's poorly put together, that's that's not been skirted, that's thrown in without any thought. It really is difficult.
"And it normally costs the farmer more because we have to sell it over the phone, or in some cases it won't sell at all. I know it's frustrating, but we really have to keep our standards up."
Wright said she hadn't heard too many instances of farmers holding onto wool in the hope of getting better prices.
"The problem is, how long do you hold onto it for? The longer you hold onto wool the quality declines, and this year with so much rain around we've had a lot of yellow wool. There's not much point in storing that."
Hope for a turnaround
Wright said despite falling prices, she remains positive about the long-term future of wool.
"I've just returned from the International Wool Textile Organisation Round Table in Nuremberg, and there was a designer from Hugo Boss who was talking about a shift in menswear.
"Because of Covid lockdowns and less people working in offices, fewer men are wearing suits and are looking for fashionable alternatives to wear at home, so Hugo Boss is doing a lot with fine knits."
They're also still producing wool suits, but they're different - more casual with an elastic top of the pants, she said.
"With more fashion brands looking to make sustainable changes, wool is only going to increase in popularity."
