The Australian Wool Production Forecasting Committee released its updated forecast of shorn wool production for 2020/21 on 14th August 2020. The Committee now predicts that shorn wool production in 2020/21 will be 280 mkg greasy. This is a decline of just 1.1% on the 283 mkg greasy produced in 2019/20 and comes after the 5.5% fall in 2019/20 compared with 2018/19. This updated forecast is an improvement on the Committee’s April forecast for 2020/21 of 276 mkg. The Committee expects the small decline in shorn wool production despite the much better seasonal conditions throughout much of New South Wales, Victoria, Tasmania, and the south-east of South Australia. The main driver for the decline in shorn wool production is a lower number of sheep shorn combined with the residual effects of the drought in the first part of the season and continued dry conditions in Western Australia, central Queensland and in the pastoral regions of South Australia.
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