Kirkpatrick has been in 12 finals during the summer but won just three - one in Australia, two in the South Island, and none in the North Island - while Fagan, who last won the Golden Shears Open in 2009, has won four finals this season.
About 60 shearers have so far entered the open in Masterton, which starts with heats on Friday.
There is also a book on the PGG Wrightson National, the final of which will also be held on the last night of the Golden Shears. Fifteen sheep of mixed breeds and wool will be shorn, culminating a competition which had five qualifying rounds throughout the country. The favourite for that event is Rakaia shearer Tony Coster.
Initial odds for the Golden Shears Open were: $2.50 Rowland Smith; $3 John Kirkpatrick; $5 David Fagan; $7 Cam Ferguson; $9 Dion King, $15 Nathan Stratford; $17 Gavin Mutch; $25 James Fagan, Darin Forde, Murray Henderson; $30 Digger Balme, Adam Brausch; $40 Doug Smith, Mark Grainger, Paerata Abraham, Tony Coster, Axle Reid.