"We are very confident in the future of the wool industry."
That's how Wal Merriman opened the 24th annual ram sale for the Merryville stud he operates in partnership with brother George at Boorowa.
"We know that China is our biggest market buying 80 per cent of the clip, but did you know that 60pc of the processed wool stays in China," he continued.
"And because of issues in China like inflation and COVID, the middle class haven't been able to spend money for some time.
"But they will return to buying wool."
The Merriman brothers offered 132 rams, with 118 sold, and reached a top price of $7500 with an average of $1951.
The top-priced ram was bought by Tony Price, Pyramul, near Mudgee, who paid $7500 for a son of Ringmaster Ultra 2nd.
The two-year-old had a weaner micron of 15.9, while his current micron is 16.2, with a 2.6 standard deviation, 16.2 co-efficient, 99.5pc comfort factor and 15.2 spinning fineness.
Mr Price has been buying rams from Merryville since 1966 with a focus on producing wool for the Italian spinners.
"The ram is a true superfine with softness and long staple," he said.
Mr Price also purchased the second top priced ram for $5500, a son of the Brilliant Super Syndicate.
Returning volume buyers included Girvan Lea Pty Ltd, Wonwondah, Victoria, who purchased nine rams for $2305 average, and JA Fitzgerald, Harrow, Victoria, who added 10 rams to their genetic pool for $2425.
Nutrien Ag Solutions, Boorowa, were the settling agents in conjunction with Elders, while Rick Power, Nutrien, and Ben Seaman, Elders, shared the rostrum.
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