Newly appointed wool sector taskforce chairman Jeff Grant is not underestimating the job ahead.
The Southland sheep and beef farmer, who is the former chairman of Meat & Wool New Zealand and the New Zealand Meat Board, and a former director of Landcorp, was last week appointed by Agriculture Minister David Carter to lead an eight-member taskforce to help steer the future direction of the wool industry.
Mr Grant said the taskforce represented a good cross section of the industry and his first task would be to get commitment to looking at a solution to lift strong-wool returns.
"I have 4000 stock units sitting here and like every other strong-wool farmer, I'm wondering what I should do with my wool ... it's very frustrating."
Mr Grant said the industry was "capital thin" across all sectors.
The key question was why was it that strong-wool had lost its position in the market place, he said.
Mr Grant said the taskforce's first job would be to look at the practicalities and scope out some broad principles before Christmas.
Even though Mr Grant's history was in the meat industry, he said he was taking a renewed interest in wool and last month he was appointed as a director of Wool Grower Holdings.
Earlier this month, Mr Carter called a meeting of sector representatives who agreed that united action was necessary and that a taskforce was the best way to achieve this.
A report on progress by the taskforce is due with the Agriculture Minister by the end of the year.
A second wool industry meeting will be convened in early 2010.