Victorian wool grower eyeing off the market

Victorian wool grower eyeing off the market

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IN LAMB: Raywood, Vic, wool grower Dusty Pascoe in front of some of his 12 month-old in-lamb Merino ewes. Mr Pascoe is tossing up whether to sell part of his clip this week or hold onto it.

IN LAMB: Raywood, Vic, wool grower Dusty Pascoe in front of some of his 12 month-old in-lamb Merino ewes. Mr Pascoe is tossing up whether to sell part of his clip this week or hold onto it.

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Dusty Pascoe has been holding onto a portion of his wool clip since March and is now tossing up whether to sell it this week or not.

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Dusty Pascoe has been holding onto a portion of his wool clip since March and is now tossing up whether to sell it this week or not.

The Raywood, Vic, farmer has been keeping an eye on the market for some time, hoping to see positive signs, but until now has held on.

"My wool broker is Fluff Tonkin from Fox & Lillie Rural and I take her advice very strongly," Mr Pascoe said.

"She's been wanting me to sell earlier but I wasn't so keen with such a flush of wool and the price declining.

"But now the risk's gone the other way, with so many people holding on, hence why I'm looking to dabble in the market now."

He said he saw the market as being completely volatile at the moment and anticipated there was potential for a lot of further downside.

"It's risky because all it takes is China all of a sudden pulling the pin or Donald Trump tweeting something controversial," he said.

"I just want to sell when the time is right and I have a feeling that was six months ago and now might be the next-best option."

His wool is scheduled for sale on Thursday this week but he said he would make the decision on Wednesday afternoon whether he withdrew it or not based on the performance of Wednesday's sales.

Mr Pascoe was positive about the situation despite the stressful decision he had to make.

"I can't complain, we've had a good run of wool sales over the last few years," he said.

"I'm still trying to maximise it all the time though."

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He shears his sheep three times a year, every six months for his breeding ewes and young ewes and then he shears his lambs separately.

He said this helped him split the risk of wool sales.

But he said he didn't have a set routine as to when he sold his wool, instead he just adapted to the market in front of him.

"Sometimes we sell it straight away, sometimes we hold, it just depends on the market," he said.

"It does make it a lot easier when the prices are up."

Mr Pascoe runs 2500-4000 sheep depending on the time of year, including 1450-1500 self-replacing Merinos.

Sixty per cent of his operation is dedicated to dryland cropping.

The story Victorian wool grower eyeing off the market first appeared on Farm Online.

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