Wool report: Market trending 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 GM for wool, Grant Edwards, to take a look at the wool market this month.

There are concerns around the current Covid-19 cases in Christchurch. There are hopes that it can be ring-fenced and controlled.

Fine wool is hitting record prices and Mackay touched on a sale in Canterbury last week, where a bale of wool 13.2 micron sold for $88NZD a kilogram – clean.

Edwards said prices like that were unprecedented at this time.

Edwards talked about the strong prices throughout the Merino wool types.

Supply chains are still causing issues, as China continues to play the market at its own pace.

Edwards explained that the wool market was positive, as prices had trended up to around .60c kilo greasy and steady prices throughout the past month.

Listen below:

Mackay asked what will happen to the wool supply chain if the South Island were to move to level 3 lockdown.

Edwards was confident the market could operate in level 3 as they had learnt a lot from previous lockdowns.