Wool report: A wrap up of 2022

PGG Wrightson's GM for Wool Grant Edwards. Photo / Supplied

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Jamie Mackay took a final look at the state of the wool market for the year with Grant Edwards, General Manager of Wool for PGG Wrightson.

Both agreed that it had been a very challenging year for the wool industry.

Mackay reckoned Edwards would never have had a tougher year than he’s had this year.

Edwards said that people within the wool industry - including the PGG team and the farmers themselves - have had to be very resilient.

A lot of the factors affecting the market were outside their control - but there was light at the end of the tunnel, it just needed to get closer, he said.

Edwards reckoned the recent relaxation of Covid protocols in China would hopefully open things up for the second half of the financial year.

Mackay said the big challenge was to find a meaningful use for strong wool.

Otherwise, he reckoned there was a chance people would drift out of wool production altogether if things got much worse.

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Edwards said that big-name wool handlers overseas all had big expansion plans - which was positive news.

Producers just needed to meet the present challenge and head it off, he said.