Future of Australian wool long term prospects looking positive

"Forgetting about the actual price of wool, but the trading conditions and business conditions that we're used to pre-2019 and starting to emerge again," Mr Lamb said.

He said a common theme across major wool growers in the world was that wool prices were very attractive, but the problem was getting consumers to spend, rather than supply, but things were coming back around.

"The next five to six months do look a little bit rocky, but when you get into the medium, to longer term, the market and the sentiment's quite buoyant, particularly for Merinos heading into next year," Mr Lamb said.

"The next two, to three years do look very good and most clients are telling us that around the world, we're just facing a few short term challenges at the moment with the global economy and trying to get things back on track.

For crossbred breeders he'd never seen their values this low in Australian values, or in the United States in 30 years, but couldn't provide a reason for that lull, other than a lack of products needing coarse wool.

"There's no short, to medium term recovery for crossbreeds, I think realistically you're looking at a couple of years away,"

"What we do need is a new product to come along that give crossbreeds a bit of a lift, and we're not seeing that."

Instead he said crossbreed wool was being used for more traditional products, like heavy coats and skirts, as well as plane and train seat covers.