China had also been active in the Australian wool market Mackay said.
He quoted NZ Merino Company's chief executive John Brakenridge who'd said "watch this space" with speculation around returns for strong wool.
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According to Mackay, New Zealand's Big Save Furniture was also going to be paying New Zealand wool growers $4.50 for finer strong wool.
Edwards confirmed this and said it was great to see industry initiatives being implemented.
Edwards teased that there was an announcement to come out around a boundless stock range where PGG was working with New Zealand growers, who were wool integrity programmed based, to produce retail stock.