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Outlook grim for wool and sheepmeat
1 Mar 2006
The Australian Bureau of Agriculture and Resource Economics said poor productivity, falling demand and low prices blighted Australia’s wool industry. Even so, ABARE expects wool growers to rebuild flocks over the medium term, with sheep meat production expected to be an important influence on wool production. Wool prices are projected to decline in real terms over the medium term as competition from other fibres continues. Lamb prices are forecast to remain firm for the remainder of 2005/06 before gradually easing as the United States re-enters the Japanese beef market and the price of red meat generally declines as supply increases. Live sheep exports are expected to continue to rise following the lifting of the bans on shipments to Saudi Arabia.
Sydney Morning Herald, 01/03/06
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