THE UPS AND DOWNS OF THE AUSTRALIAN WOOL INDUSTRY
Now and again, some stunning, thorough and valuable research jumps out of left field leaving a lasting impression.
The United States Department of Agriculture is renowned for forecasting and projecting the situation and outlook for major globally traded commodities (including cotton), and has now turned its skills towards the history of the Australian wool and sheepmeat industries.
It has nought to do with the Australian cotton industry, but for devotees of history and the role that wool has played as a major component of the growth and the Australian economy, the wealth of the nation, and as a competitor for land use with the cropping sector, this USDA document is a must read, and a valuable reference source.
It traces the industry’s history from 1788 through the early 1950s when wool accounted for over half of Australia’s agricultural production and the nation’s economy was ‘riding on the sheep’s back’.
While we tend to write the remnant wool industry off as just a shadow and shell of its former glory, interestingly, USDA concludes reports of its demise are premature and unwarranted. Those hardy little quadrupeds, whose wool grows while you sleep, remain pregnant with possibilities.
Even though the industry has shrunk in size and stature, the Australian sheep industry remains a significant contributor to Australian agriculture and is anticipated to remain the world’s largest exporter of wool and sheep meat in the foreseeable future.
https://fas.usda.gov/data/australia-australia’s-rise-wool-and-sheep-meat-dominance
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