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1 February 2021

Wool report: Optimism needed for the wool market

This week The Country's Jamie Mackay is joined by PGG Wrightson's Wool Procurement Manager, Rob Cochrane, to look at the wool market this month.

The market was still going through difficult times. Mackay said it was not good with one of his friends, who was selling ewe fleece for $2.10 NZD per kilo in mid-January.

Cochrane agreed, but said that the market had remained stable, had not dropped, and that the quality of wool still dictated the price.

Mackay questioned this optimism, but Cochrane stuck to his guns, saying at the end of the day, as long as wool was being traded, sold, or exported there was a market for it.

Cochrane added that we have to be there when the market changes, and in the mean time we need to get it right.

Mackay believed one of the issues facing the wool industry was the potential growth and interest in self-shedding crossbreed sheep.

Cochrane was unsure about this, but noted that the UK was seeing similar issues, and placing blame on New Zealand's oversupply of the wool carpet market.

Cochrane added that if farmers were moving to self-shedding sheep then they were taking the risk of putting all of their eggs in one basket.

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