Greener Pastures To Golden Fleeces

Newcastle Herald

Thursday February 28, 2008

By FRANCES THOMPSON

WOOLGROWER Ron Campbell, of Merriwa, relaxed at Stockton Beach yesterday, knowing the trip to Newcastle to sell his lambs' fleece was worth it.

"I'm pretty pleased," Mr Campbell said.

"It has consistently been better selling at Newcastle than Sydney."

Elders Newcastle premier wool manager Craig Brennan said it was all but the end of the Newcastle selling season and buyers were keen to obtain as much wool as they could, even though the Australian dollar opened yesterday morning at 93 US cents.

"It is a very positive sale, considering the Australian gains against the US," Mr Brennan said.

He said 6000 bales had been offered to date with a pass-in rate of about 5 per cent.

About 30 per cent of the offering came from the Upper Hunter, including Merriwa.

"We have had a big turnover in Upper Hunter wool since October and it is only going to improve," Mr Brennan said.

The benefits of improved feed and plenty of water since the good rains began have been translated into better quality wool and more of the fleece.

Mr Brennan said Newcastle was offering a much better quality of wool this month than sales in Sydney, where bales from the still drought-affected Southern Tablelands were being offered.

The European buyers have been very busy and they bought at least half of yesterday's offering.

Yesterday's top price was $105 a kilo for wool from Tenterfield.

The sale is due to wind up today.

Selling is due to resume in Newcastle in August.

© 2008 Newcastle Herald

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