The wool industry has some cause to be feeling more optimistic judging by comments made by South Island wool procurement manager for PGG Wrightson, Rob Cochrane.
He told the annual meeting of the NZ Wool Classers' Association in Timaru that the merino market was ''cooking'', driven by the lack ofproduction in Australia.
''The current season forecast is that production there will be down a further 2.5 per cent.''
He said this provided an opportunity for New Zealand but top preparation was essential.
Three or four companies in New Zealand had contracts requiring different ways of preparation and it was vital standards were kept high.
''As woolhandlers/classers it's important you know what is needed.
''Listen to the brokers and merchants and make sure you do the job to their satisfaction.''
There had been a small resurgence in China, particularly for 35 microns and finer wool, and Cochrane said stockpiles kept in China for the past few years were being sold.