Report shows Australian wool growers have cause for optimism as prices continue to trend higher
Ag Answers’ latest report, the November 2016 Australian Wool Update, has been released and presents a case for optimism among Australian woolgrowers following good winter and spring rainfall and increasing wool prices year-on-year.
The update provides producers and industry with a concise analysis of the Australian wool sector for the third quarter of 2016. The report shows that pastures are in excellent condition due to one of the wettest springs on record, feed grain prices are lower and rainfall forecast for the summer months is encouraging, with a 50 per cent chance of exceeding the predicted median for the season across most grazing regions.
While Australia’s wool production for the year to October 2016 is 6.7 per cent lower than the same period in 2015, the Eastern Market Indicator price is 6 per cent higher than November 2015 figures.
View the report (PDF, 601KB)
View the media release (PDF, 46KB)