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Wool rebounds at a healthy clip
15 Jul 2004
The 15-year decline in the national wool clip will end in 2004-2005, according to Australian Wool Innovation. AWI has revised its 2004-2005 estimate up to 500 million kilograms, 30 million more than forecast three months ago.
Last year's clip estimate was also increased from the March forecast of 450 million kilograms to 480 million, just 3.8 per cent below the 2002-2003 clip of 499 million. Production in the three biggest wool-growing states - NSW, Victoria and WA - is expected to recover strongly this season. The 2004-2005 increase will be the first since 1989-1990, when the clip reached over 1.1 billion kilograms.
The average micron of the clip is expected to move from fine and superfine microns to broader and mid-micron wool.
According to ABARE, the increase in shorn wool production will mean weaker prices, but total returns from sheep production - meat and wool - should be strong enough to encourage producers to rebuild the national flock, estimated to grow by 4 per cent to 99 million head in 2004-2005.
The West Australian, 14/7/04.
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