New Zealand Wool Prices Hit Highest Levels Since 2011 Amid Tight Supply and Surging Demand
Strong competition and tightening supply have seen wool reach its highest prices paid at auction since 2011.
Lions Club members gathered the equivalent of nearly 80 bales of donated wool from farmers for transport to the WoolWorks Grower Direct store in Timaru.
There, the wool was scoured and tested free of charge, then shipped to wool products company Terra Lana, which has agreed to purchase the scoured wool for use in their home insulation and other wool products.
Proceeds from the sale of the scoured wool will go directly to the Lions Club of Riverton.
Wayne Fleck, club president, said that the club usually fundraises by selling firewood and kindling, running lamb competitions, a duck race and many other events.
“The idea of collecting donated wool was a great idea. Wool was collected by members who gathered everything from a fleece to several bales.”
A total of 77 bales was delivered to the WoolWorks Grower Direct store site at Timaru Port.
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WoolWorks Grower Direct has recently been established to manage wool supply direct from farm to the scour to provide an efficient model that over time will deliver additional opportunities for growers.
Rosstan Mazey, WoolWorks Grower Direct chief executive, said the company was pleased to be working with the generous woolgrowers.
“These growers are really making a difference in their local community by donating their wool to this fantastic cause.
“It is so important for Kiwis across New Zealand to have access to swimming pools as water safety continues to be a major concern, particularly as we move into the summer and holiday season.”
WoolWorks Operations CEO Tony Cunningham said the company regularly supports community-oriented initiatives.
“Farmers continue to play such an important role in our rural communities, and we are pleased to be involved and clean this wool free of charge at our Timaru facility ahead of it going to Terra Lana for manufacturing into high-performing wool insulation products.”
The Lions Club of Riverton donates to and supports a number of community projects, and the club marks its 60th anniversary next October.
Fleck said that over that time, hundreds of thousands of dollars and countless hours of members’ time have gone into community projects.
“We are always grateful for the help and support of many businesses and entities such as WoolWorks, who contribute to the community projects we serve.”
The donated wool was processed on 6th November at the WoolWorks South Island scouring facility in Washdyke (Timaru), which coincides with a visit from some members of the club.
