Merino mania: stud averages jump hundreds on 2024 with 'confidence' in wool

A surge of confidence swept through the Central West Merino stud market this week, with sales lifting averages and sparking fierce competition.

Wool prices hit fresh highs, some producers have swung away from shedding breeds, and long-term clients dug deeper than ever for proven genetics.

Garry and Donna Kopp, Towonga and Darriwell, Peak Hill, posted the week's biggest lift, with averages jumping $825 and their offering doubling on last year.

It marked their first sale since acquiring the Darriwell stud, with former stud principal Russell Jones staying on as classer.

"The way the lamb market is at the moment, with surplus ewes making big money as well as wool markets at an all-time high, there was just an air of confidence in the whole industry," Mr Kopp said.

"Long-term buyers were prepared to pay more money than ever, with some price ranges up an extra $1000 because they're getting so much more for their lambs."

Mr Kopp said ongoing seasonal strength would not only sustain confidence but build it further.

"I haven't got a crystal ball, but we could see young ewes make more money than they're making now, potentially $500," he said.

"However, if the wool market turns in the next fortnight, which I hope it doesn't, there's going to be a correction sooner or later after such a hot rise. We just don't want it to fall."

Averages at Lachlan Merinos, Warroo, surged $780 on last year, with the opening 10 lots powering to an impressive $11,750.

Mitch Rubie, Lachlan, said the past 12 months had been exciting, with their client's sheep continuing to perform in wether trials, saleyards and shearing sheds.

"When you get the right balance, it doesn't matter what market you're following; you can still make money out of Merinos," he said.

"Good early growth, high fleece value and strong carcass traits position you for profit in any market."

Roseville Park, Dubbo, lifted $691 on last year, with Matthew Coddington describing it as one of the best ram teams they've put together.

"We've been driven by our clients to bring in new traits, but we're not looking to change our sheep type," he said.

"It's about maintaining the balance between data, structure and our Roseville Park wool to breed a ram that performs in all environments."

As principal Stuart McBurnie had forecast in last year's pre-sale speech, Weealla and Raby, Balladoran, increased $455 on the previous year.

"The experts predict lamb prices will hold for at least another 12 months, judging by southern supply and the number of ewe lambs being cut," he said.

"The wool market is starting to climb, and I expect it to rise a little longer.

"If wether lambs remain strong over the next 12 months, combined with the wool market, we're in a good position with Merino sheep."

Mr McBurnie highlighted the value of chasing both wool and meat.

"When meat prices peak and ease, the wool kicks in and the extra cuts are the cream on top," he said.

"People who complain about wool prices or shearer costs usually aren't cutting much, but add another kilogram of wool to your ewe, and your shearing's paid.

"We push both wool and carcass because you can do both."

Steve Chester, Quality Wool, Parkes, said the past 10 wool sales had delivered a $3 lift on the Eastern Market Indicator, fuelled by strong demand from the UK, India and China.

"We've seen encouraging gains right across the board, including the crossbred section," he said.

"Good wool is selling, and I think it will hold a little longer.

"As long as orders keep coming through, confidence will remain, and growers will look to lift their flocks to match the market."