Melbourne wool auction: Strong prices at final market of season

Vendors were happy to witness the second successive week of price increases for wool. See pictures from the season’s final sale.

Vendors David Sandy Allen of Boorook at Mortlake say visiting the Melbourne wool auctions this week was bittersweet.

The couple, who also run beef cattle, watched their wool go under the hammer for a high of 1520c/kg, a respectable price in a suppressed market.

However, Mr Allen conceded they had decided to phase out of sheep and concentrate more on beef cattle.

He said it was quite possibly the last, or one of the final sales they would attend to watch their wool sell.

They run composite cattle, and the challenges of the sheep and wool industry meant the beef operation was about to take precedence.

Mr Allen said that attending the sales was a regular occurrence years ago, but he hadn’t ventured into Melbourne to watch his wool sell since before pandemic lockdowns.

“The market wasn’t as buoyant as it had been in the past, but we were still pleased,” he said.

The sheep at Mortlake were shorn in May, and the wool was 17 to 18 microns.

Mr Allen was also pleased with the quality of his wool given the wet season currently being experienced at Mortlake.

“Our regular average rainfall here is around 600mm; it’s currently sitting at 778mm for the 12-month rolling average,” he said.

Boorook has received 314mm of rain in the gauge so far for this calendar year.

Fox and Lillie national wool brokerage manager Eamon Timms pictured at the sales. Picture: Zoe Phillips

Fox and Lillie national wool brokerage manager Eamon Timms said the market stepped up again for the second week in a row.

The Eastern Market Indicator increased by 36c/kg last week to settle on 1162c/kg and gained another 17c/kg this week.

Mr Timms said this amounted to two successive rises in a fortnight after eight weeks of lulls.

“It was good to see these results at the last sale before the break,” he said.

“It was a very strong market to finish on.”

Australian wool auctions now go into a three-week recess before selling resumes on August 7.

Lauren Damien Philp from Manoora, South Australia with sons Hayden, 12 and Ryan, 13 are pictured at the wool auctions in Melbourne. Picture: Zoe Phillips

Auctioneer Eamon Timms from Fox and Lillie takes the bids during the wool auctions. Picture: Zoe Phillips

Eamon Timms takes the bids during the wool auctions. Picture: Zoe Phillips

Garry Talbot from Lancefield sells during the wool auctions this week. Picture: Zoe Phillips

Prices intensified at the wool auctions this week. Picture: Zoe Phillips