Wool trade shrinks to single Christchurch auction

Tuesday, 27 January 2026

PGG Wrightson will shift all its live wool auctions to Christchurch from May, making the city the country’s only in-room selling floor as low sheep numbers force the industry to consolidate.

The rural services company is closing its Napier auction centre and will instead run a single national sale in Christchurch, keeping the traditional “open-cry” format where buyers call out bids in the auction room rather than trading online.

PGG Wrightson general manager of wool Rachel Shearer said Christchurch was chosen ahead of Napier because it handled a higher-value wool clip and was better placed to draw a large bench of buyers.

Proximity to Christchurch Airport was also seen as important for attracting international buyers.

Shearer said record-low sheep numbers meant the volume of wool coming forward through the year was no longer enough to sustain two physical auction rooms.

She said reduced volumes had already led to some auctions being cancelled, which hit growers’ cashflow when they were relying on wool sales to help fund on-farm costs.

The company will start offering wool from both islands at its Christchurch auction room from May.

Shearer said no staff would lose their jobs as a result of the change, and the existing Napier-based team would remain part of a “truly national broking network“ rather than focusing solely on the North Island.

She pitched the move as part of a broader effort to rebuild a more competitive and sustainable wool sector after several tough years.

“We are committed to the wool industry and believe this move will benefit our business as well as the wider New Zealand wool industry in multiple ways.”

That included creating a national hub for valuers, auctioneers and buyers, and investing in better data and market reporting. Centralising physical auctions would also help PGW [the company’s stock exchange identity] trim storage, logistics and freight costs, she said.

Crossbred wool prices have shown signs of improvement over the past year, but remain well below historic levels once adjusted for inflation, and farmers have increasingly relied on meat returns to carry their sheep businesses.