With increased concerns about Australian Merino wool marketing, growers may well appreciate the importance of providing reliable forecasts of wool production. This information is keenly sought and used by businesses throughout the wool pipeline.
Dr Peter Morgan, Executive Director of the Australian Wool Industries Secretariat and member of the Forecasting Committee says that the wool trade is very concerned about recent droughts and low supply forecasts.
“The wool industry from brokers and buyers in Australia through to fabric and garment manufacturers relies on accurate forecasts to best match supply with demand and to remove the boom-bust volatility that erodes confidence in wool. Good, defensible forecasts are particularly needed to deal with the uncertainty of supply surrounding recent dry seasons,” said Dr Morgan.
Recent investments by AWI have resulted in the development of a national sheep flock and wool production model. This model, along with the survey data, supports the forecasting committees and enables quick evaluation of a range of production scenarios. All woolgrowers that are contacted are urged to spare a few minutes to assist with this survey.
“At a time when prices have improved for growers, and demand remains strong, it is as important as ever to provide sound forecasts on which future business can be based.” Dr James said. I encourage all growers to support AWI and the wool industry, by contributing to the survey.”
Australian Wool Innovation
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