The Australian Wool Production Forecasting Committee (AWPFC) met on Wednesday last week and reviewed its forecasts for 2016/17 and for 2017/18. Its new forecasts were released on 18th August. After considering the industry data, seasonal conditions, and input from the state forecasting committees, the Committee has forecast shorn wool production at 340 mkg greasy in 2017/18. This is the same as its first forecast released in April. In reaching its decision on the forecast, the Committee noted that since April seasonal conditions have become drier in several regions although they remain very good elsewhere. The Committee reduced its forecast for the average wool cut per head over the 2017/18 season to be down by 1.2% compared with 2016/17. The Committee expects this to be offset by a 1% lift in the number of sheep shorn in 2017/18. The AWPFC agreed on its final estimate of shorn wool production in 2016/17 at 340 mkg greasy. This is slightly higher than the forecast it made in April and is 4.7% up on the 90-year low recorded in 2015/16. This increase is in line with the percentage increases seen for 2016/17 in wool test volumes by AWTA, first hand offerings reported by AWEX and the ABS’ wool receivals.
Australian wool production forecast for 2017/18 steady
- Category: Industry News