Australian Wool Forecast Revised for 2016-17
April 28, 2017

The Australian Wool Production Forecasting Committee has revised its forecast of shorn wool production for the 2016-17 season to 339 million kilograms greasy, a 4.3 percent increase on the 2015-16 season, and slightly higher than forecast at its December meeting.

Committee Chairman Russell Pattinson said, "As the committee expected in December, the excellent seasonal conditions in virtually all of the major sheep producing areas of mainland Australia have resulted in higher average wool cuts per head this season. Some states such as Western Australia, South Australia and Queensland have seen the benefit from the improved seasonal conditions throughout the 2016-17 season, and fleece weights are even better than the committee previously expected. These excellent seasonal conditions - combined with the high wool prices in the past few months - have also encouraged producers to retain older sheep to help rebuild their flocks and for shearing."

The 4.3 percent forecast increase in shorn wool production compares with a 4.7 percent increase in the weight of wool tested by AWTA in the first nine months of 2016-17 and a 6.4 percent increase in the first-hand offerings of wool at auction recorded by AWEX. The committee believes that some wool, particularly ultrafine wool, has been released from the stocks held on-farm and also from stocks held in broker's stores in response to the high prices.

Source: Woolnews.net