Listen: Wool is a wonderful product

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The Country's Jamie Mackay talks with PGG Wrightson's GM for Wool Grant Edwards about the boost in the wool market, biosecurity, and the potential for a farmers levy.

The past week saw a strengthening within the market as wool increased to 10 to 20 cents across the board, and lamb wool is up as much as 30 cents.

Mackay mentions that "the perception among farmers is that the wool market is bit of a dog and has been poor this year."

However the wet weather has not helped, the elements having contributed to discolouration and lowering the quality of the wool.

Edwards agrees and notes that the colour readings on their cross breed wools usually sits at a 2 to a 31/2 in colour, but due to the humid conditions have raised this to a 3 to a 5, with some wool escalating further than that.

Despite the impact of the elements, the lamb's wool market is still strong and demand is still there for apparel and blankets.

This has helped pushed the market with fine lamb's wool of 30 and a half micron and finer pulling in prices up to $4-$5 a kilogram.

The Australian wool market took a jump in the past week, potentially due to the foot and mouth outbreak in South Africa resulting in China banning all imports from there.

New Zealand should benefit from this moving forward.

It is unsure how long the ban will last, and highlights biosecurity within the wool market and how quickly markets can react.

Mackay enquires about the recent Wool Summit and debate around if farmers should return to paying a wool levy.

Edwards highlights if the summit could come up with a robust business plan it could benefit farmers and growers through to manufactures, and indicates a positive future for those who are invested into the wool industry.