Australian wool is 'back in vogue' as the sector experiences a resurgence

Australian wool riding high as market surges and enthusiasm returns Sun 21 Jun 2026 at 12:00pm In short: The Australian wool market is on a roll, with the main price indicator nearing $20 per kilogram. Enthusiasm has returned to the industry after a series of challenging years. What's next? A wave of young professionals is set to drive the industry for years to come. From doom and gloom to a mini wool boom, Australian wool is having a resurgence. After a run of tough years, the wool market has continued to climb, ending last week on the precipice of the $20 per kilogram mark. The Eastern Market Indicator (EMI) reached $19.89 per kg, $7 higher than at the same time last year. The $20 per kg mark was last achieved in the middle of October 2018. A long road back The current price is a long way from the $4.30 per kg growers faced when the wool reserve price collapsed in 1991, one of the many setbacks in the decades after the nation famously rode "on the sheep's back" in the mid-20th century. That turmoil saw old faces and historic businesses leave the industry, with Australia's wool-producing flock now so low it is sitting around pre-World War I levels. However, young faces are now stepping into the void. They have brought enthusiasm and big ideas as they bet on their future in the sustainable fibre industry. "When I first started a couple of years ago, the industry was really negative," said Australian Merino Exports wool buyer Isabella Thompson. "It was drought, prices were really low, sales were sluggish and it was really hard," Ms Thompson said. "But in the last 12 months some new talent has come through and there are so many young people enthusiastic about wool, which excites me." Bounce back AWN South Australian manager Tom Simmons has worked as a wool broker for three years and said the surging wool price gave him confidence in the industry. "When you compare the wool that comes off the sheep, and the animal's [meat], you might say that agriculture can just about ride [on] the sheep's back again," Mr Simmons said. "As a young person in the industry, we've come through a period of doom and gloom, everyone was asking why you'd chosen to go down this path, it's not worthwhile. "But when we can see how strong prices can become, and we can see what it can do for farmers, this is what it's about." Nathan Wessling works at Australia's largest wool producer, AJ & PA McBride, and he said prices were stabilising at a sustainable level. "I remember in 2018 and we hit $20 per kilo for wool and it was really exciting, but we need to make sure we're hand in glove further down the supply chain," Mr Wessling said. "We're in a really good spot with the market; supply is low but demand is high, so it's a really good time to be in wool. "There's a lot more interest from the community in natural fibres now than there has been for a long time, particularly with microplastics being problematic. "As suit wearing is declining, garment producers are really capitalising on the natural fibre story, and it's getting resonance." Surging demand Techwool export wool buyer Aaron Shaw said more than 85 per cent of all wool sold in Australia was exported to China. "They're consuming about 60 per cent of that wool domestically, and so approximately 40 [per cent] of it will be re-exported overseas in either yarn or garment form," he said. "When prices are like this, it's enjoyable. Compare now to where we were a year ago, it makes a big difference for the wool growers. "In the auction room, it does give you a bit of a buzz bidding on high prices." Young enthusiasts Mr Simmons said there was a resurgence of confidence across the sector, which was creating opportunities for younger brokers like himself. "Wool is back in vogue,"he said. "I felt there was an opportunity. It can take you across the world. It's not just limited to the farm. "The beauty about this industry is if you're 27 or 87, everybody throughout it wants to see it succeed and we'll fight tooth and nail to do it. "The young people we have in this industry are going to carry it for the next 20, 30 or 40 years." Elders wool technical officer Henry West began his career in the wool industry in 2023 and said he could not imagine being in another sector. "My old man used to be a wool buyer back in Sydney, and just from all the stories and knowledge passed down from him, I got a passion for the field and wanted to give it a red-hot go," he said. "Now I can't see myself doing anything else. I just love sheep, agriculture and farming. "We've got a young buyer and broking group and we do things like go to the footy or bowling and have a couple of beers." AWN sheep and wool specialist Millie Austin grew up on a farm in south-west Victoria and was always determined to pursue a career in wool. "I'm absolutely loving it. I think the role lends itself to so many opportunities. I get to do something completely different every day and make so many connections," Ms Austin said. "And sitting around the kitchen table with mum and dad and being able to contribute back to the family business by being their wool agent. "I love to talk to farmers about wool and fashion. Every farmer wants to be involved in a great garment and what we're wearing. "Farmers already know how good their product is, so I'm communicating with young girls, 18 to 30 years old in Melbourne who are going on a shopping spree."