This week The Country’s Rowena Duncum is joined by PGG Wrightson’s Grant Edwards to look at the wool market this month.  

Yesterday was the South Island Sale in Christchurch. Edwards notes that sales weren’t great as most wool types saw a decline in price, worst hit are the half-bred wools which dropped around 25%. 

Duncum notes that wool continues to be the problem child of the rural market, despite many initiatives being developed and the profile of wool becoming more diverse. 

Edwards agrees and adds that the current wool market is one that is wholly influenced by COVID-19. There are still restrictions on trade, retail and commerce, and home installations (such as carpet) on an international level which have significant consequences on the wool market. 

Duncum talks about the growing support for wool on social media and draws attention to people being proud to use wool base products around the home.

Duncum believes that once COVID-19 has passed then the wool market will grow, thanks to the social awareness of the positive and environmentally friendly properties of wool. 

Edwards agrees and adds that currently there are some good stories out there, such as Devold, which help to highlight the uses and demand for wool. 

Things should start to look up with the market is moving into their busy selling period, particularly in the fine wool sector.