Wool prices stagnant

A stagnant wool market did little to impress sellers at this week’s Melbourne wool sales, leaving growers wondering where the market is heading.

A stagnant wool market did little to impress sellers at this week’s Melbourne wool sales.

Merino sheep producer, Tim Carland, from Beaufort sold 28 bales of wool from an April shearing at Melbourne on Tuesday and wasn’t overly impressed with the prices.

Running a Merino sheep flock and prime lambs, the average fibre diameter was 17 microns.

Tim said while he sold all 28 bales this week, he had to accept a few lines sold under valuation.

“Skirtings and pieces struggled a bit, but the fleece was a bit better than that,” he said.

The best price Tim received was for a line of 16.1 micron hogget wool which sold for 1334c/kg.

This compares to the Eastern Market Indicator which fell 18c/kg to 1142c/kg.

“The market is extremely flat at the moment, it makes you wonder where it is headed. There certainly isn’t a lot of joy in the prices at the moment,” he said.

He said the market seemed to be stagnant, with prices similar to the same time last year.

While there wasn’t much joy in the prices for growers this week, Tim said he was still passionate about his wool.

Tim said he has just finished lambing, but with no real seasonal break, they were also now feeding sheep.

“April was quite good, we seemed to get a good early break, but then it was extremely dry in May and June,” he said.

Wool grower Tim Carland from Beaufort with Ted Wilson fine wool specialist from Nutrien at the Melbourne wool sale on Tuesday. Picture: Zoe Phillips

Meanwhile, Jon Baker from Bamganie sold wool from two- to three-year-old Merino wethers and first-cross lambs wool in Melbourne this week.

The Merino wethers are shorn every eight months and averaged 18.6 microns. The top lot of wool sold for 940c/kg on Tuesday. 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.

“So 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 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.

Wool grower Jon Baker and daughter Eliza Baker, home from studying at University in Wagga Wagga, from Bamganie, sold wool in Melbourne on Tuesday. Picture: Zoe Phillips