Drought will affect Australia’s 2018-2019 wool c - sportstextiles: Lea SportsTextiles

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Drought will affect Australia’s 2018-2019 wool crop

24/09/2018
Drought conditions in eastern Australia will have a significant effect on most of Australia’s agricultural crops, but wool will be one of the worst-affected products, according to research organisation the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES).

Prices for fleeces from Australian sheep have been healthy, but in spite of this, drought has forced many farmers to cull their herds and ABARES has said Australia’s overall wool crop is likely to be 6% below previous forecasts for the 2019-2019 season.

Estimates in June expected 430,000 tonnes of wool for the season, but following a prolonged spell of dry weather this winter, ABARES has said it now expects a figure of just over 400,000 tonnes.

Reuters has reported that rainfall in eastern Australia, the most important sheep-farming region, as being at 20% of normal levels between June 1 and August 31, 2018 and farmers have said they have had little choice but to send a higher number of sheep than planned for slaughter.

This is likely to push wool prices higher.


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