Sheep Farming in Australia - Market Research Report (2014-2029)

Variations in turn-off rates and wool production volumes have seen industry revenue fluctuate over the past five years, and fall overall. Farmers have continued to focus on export markets to expand revenue. Demand for wool in the key market of China has recovered from COVID-19 pandemic lows. However, uncertain economic conditions have weighed on prices. Industry revenue is expected to have dropped at an annualised 2.6% over the five years through 2024-25, to $3.4 billion. This includes an anticipated revenue surge of 11.2% in 2024-25, driven by record turn-off numbers and rising sheep and wool prices.