Wool was once one of New Zealand’s most exported products. But thanks to trade wars and synthetic fabrics, wool prices have plummeted.
It’s left farmers with bales of wool they can’t sell and herds they can barely afford to shear. Some farmers are stockpiling wool. Some are turning to forestry and getting out of wool altogether.
Business Insider follows the owners of Ruanui Station as they shear their 25,000 sheep and fight to keep New Zealand’s wool industry alive.
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