Gippsland wool grower sells fibre despite turbulent times

Gippsland wool grower sells fibre despite turbulent times

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RESPONSE: As some wool growers opt to hold onto wool during COVID-19, others are doing the opposite.

RESPONSE: As some wool growers opt to hold onto wool during COVID-19, others are doing the opposite.

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Allan Stewart has only held onto wool twice, both times he regrets.

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Hillside primary producer Allan Stewart says the decision to sell his wool at auction a month ago was "an easy one".

Mr Stewart, who owns Stockton Merino stud east of Bairnsdale, sold 26 bales of Merino wool at Melbourne in April.

He said he had "no qualms" selling his wool at action and urged other woolgrowers to follow suit.

Related: Woolgrowers hold onto clip as trade eases

"I've never done any good in holding onto wool and I thought I'd always be better off selling it rather than holding onto it," he said.

"I've only ever held onto wool twice in my career and my experiences weren't good.

"One time it halved in price back in the 70s and then my later experience wasn't much better either."

His 18.2 micron eight-month-old top line wool measured 78 millimetres and sold for 1130 cents a kilogram greasy.

"In the light of everything I think people need to accept that at the present time and the way world economics are, the price of wool will remain reduced for sometime," Mr Stewart said.

"I can't see it changing much for the next eight to 12 months really."

Mr Stewart shears twice a year and lambs down about 600 stud ewes.

"I didn't have to sell my wool but I couldn't see any point hanging onto it," he said.

"As far as I'm concerned, I don't regret it at all. You just learn to accept the price and move on."

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