New Zealand ended its 2014-15 wool season with the smallest volume of the clip sold through auctions in least seven years. This is because more farmers were attracted to premium prices and protection from commodity price volatility offered in private sales. The auction system's share of wool is likely to continue to shrink. An estimated 4,64,000 bales are expected to come up for auction in 2015-16 year, down from 4,80,000 bales in 2014-15 and 4,93,000 bales in 2013-14.

New Zealand has probably rounded out its smallest annual wool clip in six years this season, reflecting the lowest sheep flock in more than 70 years, dry conditions and an increased focus on meat producing breeds of sheep. The amount of wool that is going through the nation’s auction system is also declining, as farmers are seeking higher returns from direct contracts.

There has been a shift in how farmers are looking to sell their wool and some farmers are choosing to move their wool away from the auction system. A small shift away from auctions began in the 2013-14 season, whereas in 2014-15 there has been a huge shift. In recent years, sheep numbers are declining and an increased amount of wool is circumventing the auction system.