Wool report: Can social media save the wool market?

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

It was the South Island Sale in Christchurch yesterday, and unfortunately sales weren't great, Edwards said.

Most wool types saw a decline in price, with the worst hit being the half-bred wools which dropped around 25 per cent, Edwards said.

Wool continued to be the problem child of the rural market, despite many initiatives being developed and the profile of wool becoming more diverse, Duncum said.

Edwards agreed, adding that the current wool market was wholly influenced by Covid-19.

There were still restrictions on trade, retail and commerce, and home installations (such as carpet) on an international level which had significant consequences on the wool market.

However, there was growing support for wool on social media, said Duncum, who had noticed a rise in people being proud to use wool-based products around the home.

She believed that once Covid-19 had passed, the market would grow - thanks to the social awareness of the positive and environmentally-friendly properties of wool.

Edwards agreed, adding that currently there were some good stories out there, such as Norwegian clothing company Devold, which helped to highlight the uses and demand for wool.

Edwards reckoned things would start to look up, as the market was moving into its busy selling period, particularly in the fine wool sector.