For many growers, full soil moisture banks provide early optimism for the next crop on the back of a successful season. Low global stock carry-over will provide support to price into the new season.
Restockers continue to fuel local markets as the herd rebuild gains momentum in the north. New calf crops will add some supply pressure in 2022, but it is unlikely to overwhelm the current demand pace.
LAMB & SHEEP
Short term supply chain challenges aside, lamb and sheep producers can be confident of sustainable demand for their products. If the new customers found in 2021 prove sticky, the export demand outlook as economies rebound is very bright.
The wool market eases for the quarter, but steady demand produces higher price levels for 2021. Uncertainty in the path ahead has crept back in as we wait to see any impact of Omicron on demand.
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