Australia is a leading wool producer globally, but a new report predicts production will reach its lowest level in more than a century by mid-2025.
A number of factors have driven down wool production to post-World War I levels.Australian wool production is set to fall to its lowest level in more than 100 years next financial year, declining by 12 per cent.
The Australian Wool Production Forecasting Committee has forecasted a 12 per cent drop in production for the 2024-25 financial year to less than 280 million kilograms.Australia's sheep flock size peaked 1970s at around 180 million but has dropped to 63.2 million.At the same time, the number of sheep shorn is expected to fall 11.7 per cent nationally to 63.2 million.
He said with a dropping wool price and the live export trade ending, a growing number of WA wool producers were turning to cropping, which offered better and more consistent returns. "With the effort and workload with wool production, some people — and especially the new generation — would prefer to sit on a tractor than the 365-day maintenance of a sheep flock," he said.NSW and Victoria have the largest sheep populations in the country."But normal supply and demand dynamics would say that at a certain stage, the wool price should rise," he said.
"If we take, for example, a high-end merino T-shirt that might retail for $100 — there's only about $2 worth of wool goes into that," he said.
Sheep Wool Sheep Fleece Wool Industry Australian Wool Industry Australian Wool Australian Made Shearing Shearers Live Export Sheep Exports Farming Agriculture Agricultural Production Drop Drop In Production Wool Production Australian Wool Production Forecasting Committee AWPFC Forecast Live Export Ban Live Sheep Exports Stephen Hill Wool Producers Australia Adam Dawes
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