The wool industry has taken a significant blow in recent months.
Prices have eased back 25% in the first sales since covid-19 lockdowns.
New Zealand is not alone as Australian wool prices have also decreased by 25% since March. Prices achieved in NZ have dropped to average $1.50-$1.70/kg greasy for good, crossbred, second-shear fleece.
That is a hard pill to swallow for many because crossbred wool returns no longer cover the cost of the shearing.
AgriHQ data show crossbred wool prices are $1.84/kg clean, back by about 31% on this time last year and can only be described as dire.
However, the industry is far from giving up.
Those involved from the woolshed to the end market are working hard to ensure wool will continue to have its place in the market and recover from the downturn.