Wool report: Market on the way up

PGG Wrightson's GM for Wool Grant Edwards. Photo / Supplied

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This week The Country's Jamie Mackay is joined by PGG Wrightson's Grant Edwards to look at the wool market the month.

Edwards provided some positive news with a lift within the crossbreed of around 25 cents per kilo greasy. Edwards noted that the market was back around to pre-Covid levels.

China continued to be key in the marketplace with demand across the world increasing, particularly with the lead up to Christmas.

Mackay asked Edwards about the Australian market, as it continued to be fragile. Edwards confirmed that the multiple waves of Covid continued to have a ripple effect on the market.

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Edwards highlighted Australia's fragility within the market with fine wools significantly dipping in price over a two week period, and the number of bales for sale increased by 10,000 from 30-40,000 to 50,000.

Mackay brought up relations between New Zealand and Australia, as the shortage of shearers continued to be of concern. Quarantining upon arrival continued to be a deterrent for potential incoming shearers.

Edwards agreed, adding that the window for northern hemisphere shearers to come was getting smaller.

Mackay joked that he and Edwards might need to return to the sheds to help out.