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Wool flops into crops
10 Mar 2003
Wool production will fall to critically low levels due to a large-scale movement out of wool into cropping, says ABARE forecaster Dale Ashton. Estimates for this year's clip are up to 44 per cent below the average production throughout the 1990s, when wool exports averaged 800,000 tonnes a year. Mr Ashton is predicting a clip this year of 515,000 tonnes.
David White, CEO of the Australian Wool Exchange, has put the figure lower, at 450,000 tonnes.
Mr Ashton said strong lamb prices are making sheep production more attractive but though wool prices have been good, they're not good enough to encourage people into the industry. He said the slump in wool production could drive a rationalisation right across the sector.
Mr Ashton also commented that the prime lamb industry is "very buoyant" and as revenue from this grows, an increasing number of sheep producers will consider prime lamb production as their major activity, not wool.
The Australian, 10/3/03, page 29.
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