PRICE and good seasons that have driven expansion in the Australian lamb and sheep industry over the last two years have eased during the first half of 2012, as additional lambs and softer export conditions bring prices back from historically high levels.
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Releasing the Meat & Livestock Australia mid-year sheep projections, chief economist Tim McRae said the toned-down outlook for the Australian lamb and sheep industry for 2012-13 should come as no surprise.
“Lamb and sheep prices over the last two years were unprecedented – driven by lower Australian and New Zealand supplies and restocker demand, fuelled by excellent seasons in most areas of Australia,” said Mr McRae.
“After falling to its lowest level in almost 100 years at the tail end of the drought, the Australian sheep flock is now expanding, estimated to have increased 2.6 per cent in 2011-12, to 75 million head.”
Despite the lamb price fall, overall returns for slaughter lamb producers in 2012 and 2013 should continue to be favourable, underpinned by reasonable prices and higher turnoff rates.
Full report at: http://www.mla.com.au/Home
