Where there's wool there's a way - carpet as a solution to oversupply

WNZ is making and supplying wool carpet to Flooring Xtra (Image: NZ Story)

Thu, 22 Jul 2021

Sheep farmers are in business for the meat alone given low wool prices don’t cover shearing costs, but Wools of New Zealand says the problem isn’t insurmountable. Normally you can increase prices by reducing supply, but sheep produce wool regardless of market dynamics and they have to be shorn, said John McWhirter, chief executive of Wools of NZ.“In the case of wool, it sits on sheep and the demand for sheepmeat has grown so that means you’ve actually got a whole lot of wool coming whether you want it or not,”...

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