Wool Market Reports

NSW ultrafine wool growers sell 12.9 micron lot for $126/kg

Sheep Central, January 25, 2024

David and Simone Sweeney were in Sydney to see their wool sold this week. Image – Elders, Facebook.

NEW South Wales ultrafine wool growers David and Simone Sweeney sold a paddock-grown 12.9 micron lot in Sydney this week for $126 a kilogram greasy – Australia’s highest auction price since November 2021.

The Sweeney’s two bales were sold through Elders to Endeavour Wool Exports, buying for the luxury Italian brand Loro Piana.

An Elders Facebook post offered huge congratulations to the Sweeneys for the sale of Lot 2 in Sydney Sale 30. Elders said the premium wool, boasted impressive statistics at 12.9 micron, 84mm staple length, 0.6 percent vegetable matter content, 35N/kt tensile strength and a 73.1pc yield.

Elders district wool manager Tom Henry said the sale was a fantastic result for David and Simone – “a testament to years of hard work, dedication, and diligence finally paying off!”

Mr Henry said the ultrafine end of the wool market has had some difficulties in terms of price, but in the last 12-18 months there has been a turnaround for the 12-14 micron wool.

“They’ve started to come into their own and found their place in the high end exclusive clothing market,” he said.

The Sweeney flock has been based on Yalgoo genetics. AWEX confirmed the sale was the highest price seen since 2021. The Sweeneys also sold another bale of wool for 7400c/kg and a bale for 6700c/kg.

EWE Sydney manager Stuart Greenshields said the 12.9 micron lot was rare in that it was very sound good spinners style wool that Loro PIana is looking for.

He said 12.9 micron lots “don’t grow on trees either, but when they are there they (Loro Piana) want to buy them.”

“It was the right wool, there are not many of them around so I guess it is really about supply.”

Mr Greenshields said Loro Piana wanted to support ultrafine wool growers to ensure they continue to be sustainable, profitable and stay in business.

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