Seeing Merino wool in its final form on retail racks

Tag : woolen cloth

The top Melbourne-based QC has amassed a net worth valued in thehundreds of millions by making apt business decisions and providingvaluable legal advice across three decades.
But it is as a producer of 1500 bales of superfine/fine wool a yearfrom his Western District Merino flock that he asks the samequestion many have asked before - why can't growing such awonderful natural fibre be more profitable?
The reply to this enduring question challenges various woolfundamentals.
"Everyone in the wool chain must realise they are better off payingmore for raw wool," Mr Myers said.
"Growers and manufacturers have to get together to promoteparticular wools to create more perceived value and move away fromthe auction system.
"I also believe it's finally time Australian Wool Innovation wasscrapped completely along with Woolmark and the industry fullycommercialised.
"Paying a 2pc levy has essentially been giving away our profit andwe have nothing to show for it."
Despite these concerns he will continue to grow wool for what heterms "idiosyncratic" reasons but can't see why anyone wouldcontinue growing fine wool for pure financial motivation given thecurrent state of the wool industry.
This is what has to change according to Mr Myers.
More must be paid for raw wool
Seeing Merino wool in its final form on retail racks onlyhighlights wool's most obvious problem to Mr Myers.
"To buy a very good suit you don't get much change back from $5000and it was probably made with about a kilogram or two of wool," hesaid.
"So the essential problem is the farmer must extract more of thevalue the ultimate consumer is prepared to recognise.
"It's a challenge the wool industry must acknowledge and address."
He believes forming better relationships along the processing chainand marketing particular wools under the one brand is part of theanswer.
Through his Dunkeld Pastoral operation, he has tried to gain agreater wool price by forging relationships with those furtheralong the wool chain - but so far without a result.
"(Those further down the chain) have simply not been interestedbecause they don