Wool market ends financial year lower

The last wool sale for the 2023-24 financial year ended lower, with a “very flat” market the result of an extremely dry season.

The wool market ended the last sale for the financial year lower.

And Jon Baker from Bamganie, who sold wool from two- to three-year-old Merino wethers and first-cross lambs wool in Melbourne last week, wasn’t protected from the falling market.

Jon’s top lot of wool from Merino wethers, which are shorn every eight months and averaged 18.6 microns, sold for 940c/kg last week.

Wool grower Jon Baker and daughter Eliza Baker from Bamganie. Picture: Zoe Phillips

The crossbred lamb wool made 440c/kg.

“Prices aren’t that good and the market was down about 20c/kg overall,” Jon said.

“It was above estimates, but we’d prefer a bit more. The market is very flat and I can’t see it getting any better.”

Due to dry conditions, Jon sold the wethers over-the-hooks for $80.

“The wethers made about $50 worth of wool each and we sold them over-the-hooks for $80, so it wasn’t too bad, but it should be better. We are lucky we got the OTH prices we did.”

“Sheep prices have come up a bit, but everything is down about $100 on the previous year.”

Jon said the season has been extremely dry and they had been feeding sheep since January.

“Basically we sold all the wethers, as they are the first to sell when it gets dry, so now we can just focus on the breeding stock.”

One bonus was they were having a good lambing because the weather hadn’t been too wet or cold.