Report on wool 'far reaching'

WELLINGTON - Sheep farmers have been told to expect a report on the direction of the wool industry by the end of next month.

Consultants McKinsey and Co have presented their sixth and final update to the Independent Stakeholder Group and the Wool Board in Wellington.

Independent group chairman Ian Farrant said the study would make far-reaching recommendations.

"There will be some surprises and some recommendations which the industry has contemplated for a long while.

"Importantly, we expect that the recommendations ... will, above all else, be workable."

Mr Farrant declined to specify the ideas to be presented in the study, which is expected to cost between $2 million and $3 million.

- NZPA